Jerry A. Hausman
Encyclopedia
Jerry A. Hausman is the John and Jennie S. MacDonald Professor of Economics
at the Massachusetts Institute of Technology
and a famous econometrician. He has also published numerous papers in applied microeconomics
. He is the recipient of several prestigious awards including the John Bates Clark Medal
in 1985 and the Frisch Medal
in 1980.
He is perhaps most well known for his development of the Hausman specification test, the first easy method allowing scientists to evaluate if their statistical model
s correspond to the data.
He has done extensive work in the field of telecommunication
s, and is also recognized as an expert on antitrust
and merger
s, public finance
and tax
ation, and regulation
. Hausman also serves as the director of the MIT Telecommunications Economics Research Program.
His recent applied papers are on topics including the effect of new goods on economic welfare and their measurement in the CPI
, new telecommunications technologies including cellular 3G
and broadband
, regulation of telecommunications and railroads, and competition in network markets. His recent econometrics papers include estimation of difference in difference models, semi-parametric duration models, weak instruments
, and errors in variables in non-standard situations.
Hausman received his B.A.
from Brown University
in 1968, and his Ph.D.
from Nuffield College
, Oxford University in 1973, where he was a Marshall Scholar.
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
at the Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
and a famous econometrician. He has also published numerous papers in applied microeconomics
Microeconomics
Microeconomics is a branch of economics that studies the behavior of how the individual modern household and firms make decisions to allocate limited resources. Typically, it applies to markets where goods or services are being bought and sold...
. He is the recipient of several prestigious awards including the John Bates Clark Medal
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"...
in 1985 and the Frisch Medal
Frisch Medal
The Frisch Medal is an award in econometrics given by the Econometric Society. It is awarded every two years for empirical or theoretical applied research published in Econometrica during the previous five years...
in 1980.
He is perhaps most well known for his development of the Hausman specification test, the first easy method allowing scientists to evaluate if their statistical model
Statistical model
A statistical model is a formalization of relationships between variables in the form of mathematical equations. A statistical model describes how one or more random variables are related to one or more random variables. The model is statistical as the variables are not deterministically but...
s correspond to the data.
He has done extensive work in the field of telecommunication
Telecommunication
Telecommunication is the transmission of information over significant distances to communicate. In earlier times, telecommunications involved the use of visual signals, such as beacons, smoke signals, semaphore telegraphs, signal flags, and optical heliographs, or audio messages via coded...
s, and is also recognized as an expert on antitrust
Antitrust
The United States antitrust law is a body of laws that prohibits anti-competitive behavior and unfair business practices. Antitrust laws are intended to encourage competition in the marketplace. These competition laws make illegal certain practices deemed to hurt businesses or consumers or both,...
and merger
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
s, public finance
Public finance
Public finance is the revenue and expenditure of public authoritiesThe purview of public finance is considered to be threefold: governmental effects on efficient allocation of resources, distribution of income, and macroeconomic stabilization.-Overview:The proper role of government provides a...
and tax
Tax
To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...
ation, and regulation
Regulation
Regulation is administrative legislation that constitutes or constrains rights and allocates responsibilities. It can be distinguished from primary legislation on the one hand and judge-made law on the other...
. Hausman also serves as the director of the MIT Telecommunications Economics Research Program.
His recent applied papers are on topics including the effect of new goods on economic welfare and their measurement in the CPI
Consumer price index
A consumer price index measures changes in the price level of consumer goods and services purchased by households. The CPI, in the United States is defined by the Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of...
, new telecommunications technologies including cellular 3G
3G
3G or 3rd generation mobile telecommunications is a generation of standards for mobile phones and mobile telecommunication services fulfilling the International Mobile Telecommunications-2000 specifications by the International Telecommunication Union...
and broadband
Broadband
The term broadband refers to a telecommunications signal or device of greater bandwidth, in some sense, than another standard or usual signal or device . Different criteria for "broad" have been applied in different contexts and at different times...
, regulation of telecommunications and railroads, and competition in network markets. His recent econometrics papers include estimation of difference in difference models, semi-parametric duration models, weak instruments
Instrumental variable
In statistics, econometrics, epidemiology and related disciplines, the method of instrumental variables is used to estimate causal relationships when controlled experiments are not feasible....
, and errors in variables in non-standard situations.
Hausman received his B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
from Brown University
Brown University
Brown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
in 1968, and his Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
from Nuffield College
Nuffield College, Oxford
Nuffield College is one of the constituent colleges of the University of Oxford in England. It is an all-graduate college and primarily a research establishment, specialising in the social sciences, particularly economics, politics and sociology. It is a research centre in the social sciences...
, Oxford University in 1973, where he was a Marshall Scholar.