Jerry Hausman 101: Renowned Econometrics Expert
Zatrun Published at November 10, 2023

In this article titled “Jerry Hausman 101: A Renowned Econometrics Expert” in our article of we will cover in detail delve into everything you need to know about Jerry Hausman, a famous econometrics expert that our readers.

Who is Jerry Hausman?

Jerry Hausman is a renowned econometrics expert, born on May 5, 1946, who currently serves as the John and Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology (MIT). He has published numerous influential articles in the field of microeconometrics and has been the recipient of prestigious awards such as the John Bates Clark Medal in 1985 and the Frisch Medal in 1980.

Jerry Hausman

At MIT, Jerry Hausman serves as a professor of economics and the director of the Telecommunications Economics Research Program. His research interests include applied microeconomics, econometrics, differentiated products, telecommunications, taxation, energy, aging, and the environment.

Born in West Virginia in 1946, Dr. Hausman first joined MIT as an assistant professor in 1973. He graduated summa cum laude with a B.A. degree from Brown University in 1968, and in 1973, he received his Ph.D. degree as a Marshall Scholar at Nuffield College, Oxford University, for his thesis entitled “Theoretical and Empirical Aspects of Vintage Capital Models.” Dr. Hausman has received numerous awards, honors, and fellowships, including the John Bates Clark Medal and Frisch Medal, and has served as a co-editor or advisory editor for several economics journals.

Career and Notable Achievements:

Dr. Hausman has a wealth of experience that demonstrates his ability to work behind the scenes of the business world. He has worked as a consultant for retailers such as Starbucks, Kellogg’s, Anheuser Busch, Tesco’s, and Home Depot. In 2018, he was hired by Teikametrics, the Retail Optimization Platform (ROP) for Amazon and other marketplaces, as a scientific advisor. “There is an opportunity to help sellers make better decisions about pricing, advertising, and inventory selection using econometrics and data. The technology we are building at Teikametrics is helping retailers and brands compete in this dynamic new retail economy – the future of retail,” Hausman said in a statement.

Having a consultant like Dr. Hausman apply advanced data science techniques within the Amazon ecosystem will only make the online giant stronger. He is perhaps best known for developing the Durbin-Wu-Hausman test, which was the first easy method for evaluating whether statistical models matched up with the data. He has conducted extensive work in the field of telecommunications, as well as being recognized as an expert in antitrust and mergers, public finance and taxation, and regulation. Hausman also serves as the director of the MIT Telecommunications Economics Research Program.

His recent applied articles cover topics such as the effects of new materials on economic well-being and measurements in CPI, new telecommunications technologies such as cellular 3G and broadband, and telecommunications and railway regulation, and competition in network markets. Among his recent econometric articles are estimation of different models, semi-parametric duration models, mixed logit models, weak instruments, and error variables beyond the standard cases.

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