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Daniel McFadden
Daniel Little McFadden (born July 29, 1937) is an American econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman. McFadden's share of the prize was "for his development of theory and methods for analyzing discrete choice". He is the Presidential Professor of Health Economics at the University of Southern California and Professor of the Graduate School at University of California, Berkeley. Early life and education McFadden was born on July 29, 1937 in Raleigh, North Carolina. He attended the University of Minnesota, where he received a B.S. in Physics, and a Ph.D. in Behavioral Science (Economics) five years later (1962). While at the University of Minnesota, his graduate advisor was Leonid Hurwicz, who was awarded the Economics Nobel Prize in 2007. Career In 1964 McFadden joined the faculty of University of California, Berkeley, focusing his research on choice behavior and the problem of linking economic theory and measurement. In 1974 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raleigh, North Carolina
Raleigh (; ) is the capital city of the state of North Carolina and the seat of Wake County in the United States. It is the second-most populous city in North Carolina, after Charlotte. Raleigh is the tenth-most populous city in the Southeast, the 41st-most populous city in the U.S., and the largest city of the Research Triangle metro area. Raleigh is known as the "City of Oaks" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of . The U.S. Census Bureau counted the city's population as 474,069 in the 2020 census. It is one of the fastest-growing cities in the United States. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke Colony in present-day Dare County. Raleigh is home to North Carolina State University (NC State) and is part of the Research Triangle together with Durham (home of Duke University and North Carolina Central University) and Chapel Hill (home of the Univer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discrete Choice
In economics, discrete choice models, or qualitative choice models, describe, explain, and predict choices between two or more discrete alternatives, such as entering or not entering the labor market, or choosing between modes of transport. Such choices contrast with standard consumption models in which the quantity of each good consumed is assumed to be a continuous variable. In the continuous case, calculus methods (e.g. first-order conditions) can be used to determine the optimum amount chosen, and demand can be modeled empirically using regression analysis. On the other hand, discrete choice analysis examines situations in which the potential outcomes are discrete, such that the optimum is not characterized by standard first-order conditions. Thus, instead of examining "how much" as in problems with continuous choice variables, discrete choice analysis examines "which one". However, discrete choice analysis can also be used to examine the chosen quantity when only a few dis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economists For Peace And Security
Economists for Peace and Security (EPS) is a New York-based, United Nations accredited and registered global organization and network of thought-leading economists, political scientists, and security experts founded in 1989 that promotes non-military solutions to world challenges, and more broadly, works towards freedom from fear and freedom from want for all. Since 1995 EPS has been registered with the United Nations Economic and Social Council and the United Nations Department of Public Information. Since 2006 the UK branch of EPS publishes a peer reviewed journal, the ''Economists for Peace and Security Journal'' (EPSJ). In 1995 EPS was involved with criticism of the United States Navy in Vieques, Puerto Rico, producing several reports on the subject. Notable trustees of EPS include Kenneth Arrow and Lawrence Klein (founding trustees); Amartya Sen, Joseph Stiglitz, Robert Reich and Óscar Arias.EPS USATrustees, accessed 1 March 2010 James K. Galbraith was named Chair of the B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States National Academy Of Sciences
The National Academy of Sciences (NAS) is a United States nonprofit, non-governmental organization. NAS is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of Engineering (NAE) and the National Academy of Medicine (NAM). As a national academy, new members of the organization are elected annually by current members, based on their distinguished and continuing achievements in original research. Election to the National Academy is one of the highest honors in the scientific field. Members of the National Academy of Sciences serve '' pro bono'' as "advisers to the nation" on science, engineering, and medicine. The group holds a congressional charter under Title 36 of the United States Code. Founded in 1863 as a result of an Act of Congress that was approved by Abraham Lincoln, the NAS is charged with "providing independent, objective advice to the nation on matters related to science and technology. ... to provide sci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conditional Logit Analysis
In statistics, the logistic model (or logit model) is a statistical model that models the probability of an event taking place by having the log-odds for the event be a linear combination of one or more independent variables. In regression analysis, logistic regression (or logit regression) is estimating the parameters of a logistic model (the coefficients in the linear combination). Formally, in binary logistic regression there is a single binary dependent variable, coded by an indicator variable, where the two values are labeled "0" and "1", while the independent variables can each be a binary variable (two classes, coded by an indicator variable) or a continuous variable (any real value). The corresponding probability of the value labeled "1" can vary between 0 (certainly the value "0") and 1 (certainly the value "1"), hence the labeling; the function that converts log-odds to probability is the logistic function, hence the name. The unit of measurement for the log-odds scale ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doctor Of Philosophy
A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is an earned research degree, those studying for a PhD are required to produce original research that expands the boundaries of knowledge, normally in the form of a dissertation, and defend their work before a panel of other experts in the field. The completion of a PhD is often a requirement for employment as a university professor, researcher, or scientist in many fields. Individuals who have earned a Doctor of Philosophy degree may, in many jurisdictions, use the title '' Doctor'' (often abbreviated "Dr" or "Dr.") with their name, although the proper etiquette associated with this usage may also be subject to the professional ethics of their own scholarly field, culture, or society. Those who teach at universities or work in academic, e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Physics
Physics is the natural science that studies matter, its fundamental constituents, its motion and behavior through space and time, and the related entities of energy and force. "Physical science is that department of knowledge which relates to the order of nature, or, in other words, to the regular succession of events." Physics is one of the most fundamental scientific disciplines, with its main goal being to understand how the universe behaves. "Physics is one of the most fundamental of the sciences. Scientists of all disciplines use the ideas of physics, including chemists who study the structure of molecules, paleontologists who try to reconstruct how dinosaurs walked, and climatologists who study how human activities affect the atmosphere and oceans. Physics is also the foundation of all engineering and technology. No engineer could design a flat-screen TV, an interplanetary spacecraft, or even a better mousetrap without first understanding the basic laws of physics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bachelor Of Science
A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years. The first university to admit a student to the degree of Bachelor of Science was the University of London in 1860. In the United States, the Lawrence Scientific School first conferred the degree in 1851, followed by the University of Michigan in 1855. Nathaniel Southgate Shaler, who was Harvard's Dean of Sciences, wrote in a private letter that "the degree of Bachelor of Science came to be introduced into our system through the influence of Louis Agassiz, who had much to do in shaping the plans of this School." Whether Bachelor of Science or Bachelor of Arts degrees are awarded in particular subjects varies between universities. For example, an economics student may graduate as a Bachelor of Arts in one university but as a Bachelor of Science in another, and occasionally, both options are offered. Some universities follow the Oxfor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discrete Choice Modelling
Choice modelling attempts to model the decision process of an individual or segment via revealed preferences or stated preferences made in a particular context or contexts. Typically, it attempts to use discrete choices (A over B; B over A, B & C) in order to infer positions of the items (A, B and C) on some relevant latent scale (typically "utility" in economics and various related fields). Indeed many alternative models exist in econometrics, marketing, sociometrics and other fields, including utility maximization, optimization applied to consumer theory, and a plethora of other identification strategies which may be more or less accurate depending on the data, sample, hypothesis and the particular decision being modelled. In addition, choice modelling is regarded as the most suitable method for estimating consumers' willingness to pay for quality improvements in multiple dimensions. Related terms There are a number of terms which are considered to be synonyms with the term cho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Heckman
James Joseph Heckman (born April 19, 1944) is a Nobel Prize-winning American economist at the University of Chicago, where he is The Henry Schultz Distinguished Service Professor in Economics and the College; Professor at the Harris School of Public Policy; Director of the Center for the Economics of Human Development (CEHD); and Co-Director of Human Capital and Economic Opportunity (HCEO) Global Working Group. He is also Professor of Law at the Law School, a senior research fellow at the American Bar Foundation, and a research associate at the National Bureau of Economic Research. In 2000, Heckman shared the Nobel Memorial Prize in Economic Sciences with Daniel McFadden, for his pioneering work in econometrics and microeconomics. As of December 2020, according to RePEc, he is the second-most influential economist in the world. Early years Heckman was born to John Jacob Heckman and Bernice Irene Medley in Chicago, Illinois. He received his B.A. in mathematics from Colorado C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrics
Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships.M. Hashem Pesaran (1987). "Econometrics," '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1p. 1–34Abstract (2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econometric the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nobel Memorial Prize In Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered by the Nobel Foundation. Although not one of the five Nobel Prizes which were established by Alfred Nobel's will in 1895, it is commonly referred to as the Nobel Prize in Economics. The winners of the Nobel Memorial Prize in Economic Sciences are chosen in a similar way, are announced along with the Nobel Prize recipients, and the prize is presented at the Nobel Prize Award Ceremony. The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary. It is administered and referred to along with the Nobel Prizes by the Nobel Foundation. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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