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Daniel Little McFaddenAmerican economist
Date of Birth: 29.07.1937
Country:  USA |
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Biography of Daniel Little McFadden
Daniel Little McFadden is an American economist and econometrics expert. He was awarded the Nobel Memorial Prize in Economic Sciences in 2000, sharing it with James Heckman from the University of Chicago. The prize was awarded for their development of theory and methods for analyzing discrete choice. McFadden has held a professorship in economics at the University of California, Berkeley for many years and is considered one of the most influential economists in the world.
Early Life and Education
Daniel McFadden was born on July 29, 1937, in Raleigh, North Carolina. He studied at the University of Minnesota, where he earned a bachelor's degree in physics at the age of 19. Five years later, in 1962, he obtained a Ph.D. in behavioral sciences with a specialization in economics. During his dissertation work at the University of Minnesota, he was mentored by Leonid Hurwicz, a Russian-American economist who was awarded the Nobel Prize in Economics in 2007.
Career and Achievements
In 1964, McFadden joined the faculty of the University of California, Berkeley, where he focused on research in various areas of econometrics, including choice modeling and the problem of linking economic theory and measurement systems. He was awarded the John Bates Clark Medal by the American Economic Association in 1975, the Frisch Medal by the Econometric Society in 1986, and the Erwin Plein Nemmers Prize in Economics in 2000. McFadden was elected to the National Academy of Sciences in 1981.
In 1977, McFadden moved to the Massachusetts Institute of Technology (MIT), but returned to Berkeley in 1994. Upon his return, he founded the Econometrics Laboratory, which is dedicated to statistical computation for economic applications, and continues to serve as its director. Additionally, McFadden is a trustee of Economists for Peace and Security, a society focused on promoting economic understanding for global peace and security.
On January 10, 2011, it was announced that Daniel McFadden had been appointed as a professor of health economics at the University of Southern California (USC). He plans to collaborate closely with the USC School of Policy, Planning, and Development, as well as the university's economics department, to study fundamental issues facing the healthcare sector. One of the research directions will be examining how consumers make choices regarding health insurance and medical services.
