Daniel McFadden

Explore the timeline of Daniel McFadden, acclaimed economist and Nobel Laureate, known for his influential work in econometrics and microeconomic theory. Discover his key life events, academic milestones, and contributions to the field of economics.

Born: July 29, 1937
Economist

29 juli 1937

1 juni 1962

1 mei 1975

1 januari 1981

1 januari 1995

11 oktober 2000

16 augustus 2007

1 juni 2011

1 september 2014

1 oktober 2018

29juli
1937
29 July 1937

Birth of Daniel McFadden

Daniel Little McFadden was born on July 29, 1937, in Raleigh, North Carolina, USA. He grew up to become an influential American economist, known for his work in econometrics, especially in the fields of discrete choice and the development of methods for analyzing qualitative response variables. This would eventually earn him the Nobel Prize in Economic Sciences.

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01juni
1962
01 June 1962

Ph.D. in Economics

Daniel McFadden received his Ph.D. in Economics from the University of Minnesota in 1962. His dissertation laid the foundation for his future work in econometrics and discrete choice theory, which would greatly influence the field of economic science and policy-making over the years.

01mei
1975
01 May 1975

Introduction of Conditional Logit Model

In 1975, Daniel McFadden introduced the conditional logit model, a fundamental contribution to econometrics that allowed for the analysis of discrete choice behavior. This model became an important tool in various fields where discrete choice is studied, including transportation, marketing, and public policy. McFadden's model has been used to analyze consumer preferences and decision making.

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01januari
1981
01 January 1981

John Bates Clark Medal Awarded

Daniel McFadden was awarded the John Bates Clark Medal in 1981, one of the most prestigious honors for economists under the age of 40. The medal is awarded biennially by the American Economic Association and is considered a strong predictor for future Nobel Prize winners in economic sciences. This award recognized McFadden's significant contributions to the field of econometrics.

01januari
1995
01 January 1995

Founding of the Econometrics Laboratory

Daniel McFadden founded the Econometrics Laboratory at the University of California, Berkeley in 1995. This facility aims to advance the study and application of econometrics. Under McFadden's leadership, the lab became a center of cutting-edge research and a training ground for future leaders in the field, contributing significantly to the advancement of econometric theory and practice.

11oktober
2000
11 October 2000

Nobel Prize in Economic Sciences

Daniel McFadden was awarded the Nobel Prize in Economic Sciences in 2000, sharing the honor with James Heckman. McFadden was recognized for his development of theory and methods for analyzing discrete choice, which are used to understand and predict individual decision-making. His work on conditional logit models and qualitative response models provided valuable insights into consumer behavior and economics.

16augustus
2007
16 August 2007

Retirement from UC Berkeley

Daniel McFadden retired from his full-time position at the University of California, Berkeley in 2007 but continued to contribute to the academic community as an emeritus professor. During his tenure at Berkeley, McFadden significantly influenced the field of econometrics, mentoring numerous students who went on to make their own contributions to economic science.

01juni
2011
01 June 2011

Joining USC and Caltech

In 2011, Daniel McFadden joined the faculty at the University of Southern California (USC) and the California Institute of Technology (Caltech) as a Presidential Professor of Health Economics. His work at these institutions focused on the intersection of health and economic behavior, where he applied his expertise in econometrics to address critical issues in health economics.

01september
2014
01 September 2014

Recognition as a Highly Cited Researcher

Daniel McFadden was recognized in 2014 as a Highly Cited Researcher, an honor reflecting his influence and significant contributions to the field of economics. This recognition is based on the number of citations from his published papers, which indicates the valuable impact of his research on economic theory, decision making, and policy analysis globally.

01oktober
2018
01 October 2018

Publication in Journal of Economic Perspectives

In 2018, Daniel McFadden published an influential article in the Journal of Economic Perspectives, discussing the future of behavioral economics and its potential impacts on economic theory and policymaking. His insights on behavioral economics highlighted the evolving nature of economic practice and the relevance of integrating behavioral insights in economic models.

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