Daniel Little McFadden (born July 29, 1937) is an American

econometrician Econometrics is an 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� ...

who shared the 2000

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 (), commonly referred to as the Nobel Prize in Economics(), is an award in the field of economic sciences adminis ...

with

James Heckman James Joseph Heckman (born April 19, 1944) is an American economist and Nobel laureate who serves as the Henry Schultz Distinguished Service Professor in Economics at the University of Chicago, where he is also a professor at the college, a pro ...

. McFadden's share of the prize was "for his development of theory and methods for analyzing

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 c ...

". He is the Presidential Professor of Health Economics at the

University of Southern California The University of Southern California (USC, SC, or Southern Cal) is a Private university, private research university in Los Angeles, California, United States. Founded in 1880 by Robert M. Widney, it is the oldest private research university in ...

and Professor of the Graduate School at

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California), is a Public university, public Land-grant university, land-grant research university in Berkeley, California, United States. Founded in 1868 and named after t ...

Early life and education

McFadden was born on July 29, 1937, in

Raleigh, North Carolina Raleigh ( ) is the List of capitals in the United States, capital city of the U.S. state of North Carolina. It is the List of municipalities in North Carolina, second-most populous city in the state (after Charlotte, North Carolina, Charlotte) ...

. He attended the

University of Minnesota The University of Minnesota Twin Cities (historically known as University of Minnesota) is a public university, public Land-grant university, land-grant research university in the Minneapolis–Saint Paul, Twin Cities of Minneapolis and Saint ...

, where he received a B.S. in

Physics Physics is the scientific study of matter, its Elementary particle, 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 whi ...

, and a

Ph.D. A Doctor of Philosophy (PhD, DPhil; or ) is a terminal degree that usually denotes the highest level of academic achievement in a given discipline and is awarded following a course of graduate study and original research. The name of the deg ...

in Behavioral Science (Economics) five years later (1962). While at the University of Minnesota, his graduate advisor was

Leonid Hurwicz Leonid Hurwicz (; August 21, 1917 – June 24, 2008) was a Polish–American economist and mathematician, known for his work in game theory and mechanism design. He originated the concept of incentive compatibility, and showed how desired outcom ...

, who was awarded the Economics Nobel Prize in 2007.

Career

In 1964, McFadden joined the faculty of

, focusing his research on choice behavior and the problem of linking economic theory and measurement. In 1974, he introduced conditional logit analysis. In 1975, McFadden won the

John Bates Clark Medal The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge." The award is named after the ...

. In 1977, he moved to the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a Private university, private research university in Cambridge, Massachusetts, United States. Established in 1861, MIT has played a significant role in the development of many areas of moder ...

. In 1981, he was elected to the

National Academy of Sciences The National Academy of Sciences (NAS) is a United States nonprofit, NGO, 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 ...

. He returned to Berkeley in 1991, founding the Econometrics Laboratory, which is devoted to statistical computation for economics applications. He is a trustee of the

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-mili ...

. He won the

Erwin Plein Nemmers Prize in Economics The Erwin Plein Nemmers Prize in Economics is an academic prize awarded biennially by Northwestern University. It was initially endowed along with a companion prize, the Frederic Esser Nemmers Prize in Mathematics. Both are part a $14 million donat ...

in 2020 and was elected to the

American Philosophical Society The American Philosophical Society (APS) is an American scholarly organization and learned society founded in 1743 in Philadelphia that promotes knowledge in the humanities and natural sciences through research, professional meetings, publicat ...

in 2006. In January 2011, McFadden was appointed the Presidential Professor of Health Economics at the

(USC), which entails a joint appointment in the Department of Economics and the Price School of Public Policy.

Political views

In June 2024, 16

Nobel Prize in Economics The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (), commonly referred to as the Nobel Prize in Economics(), is an award in the field of economic sciences adminis ...

laureates, including McFadden, signed an open letter arguing that

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...

’s fiscal and trade policies coupled with efforts to limit the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of ...

's independence would reignite inflation in the United States.

References

External links

Daniel McFadden's homepage
* includes the Prize Lecture 8 December 2000 ''Economic Choices''

*

{{DEFAULTSORT:McFadden, Daniel 1937 births Living people Members of the United States National Academy of Sciences American econometricians American health economists Economists from North Carolina American Nobel laureates Nobel laureates in Economics University of Minnesota College of Science and Engineering alumni University of California, Berkeley faculty Massachusetts Institute of Technology School of Science faculty University of Southern California faculty People from Raleigh, North Carolina 20th-century American economists 21st-century American economists Fellows of the Econometric Society Presidents of the Econometric Society Fellows of the Earhart Foundation Presidents of the American Economic Association Distinguished fellows of the American Economic Association National Bureau of Economic Research Members of the American Philosophical Society

Early life and education

Career

Political views

See also

References

External links