Economics

Jerry A. Hausman

Who is Jerry A. Hausman?

Jerry A. Hausman is Professor of Economics and Director of the MIT Telecommunications Economics Research ProgramDr. Hausman’s research focuses on applied microeconomics, econometrics, differentiated products, telecommunications, taxation, energy, ageing, and the environment.

key takeaways

  • Jerry Hausman is a professor of economics and an applied econometrician at the Massachusetts Institute of Technology (MIT).
  • Hausman is best known for developing the Durbin-Wu-Hausman test for statistical model specification.
  • His applied research includes extensive work in telecommunications industry economics and price index estimation.

life and career

Born in West Virginia in 1946, he first joined MIT as an assistant professor in 1973. Dr. Hausman holds a Ph.D. He is from Oxford University, where he was a Marshall Scholar. He has received numerous awards, honors and scholarships, including the John Bates Clark Award and the Frisch Medal. Dr. Hausman has published extensively and has served as an associate or consulting editor for many economics journals.

Dr. Hausman has demonstrated that brain economists like him can be deployed behind the scenes in business, and he has been a consultant to retailers including Starbucks, Kellogg, Anheuser-Busch, Tesco and Home Depot. Hired as scientific advisor by Teikametrics in 2018, a Retail Optimization Platform (ROP) for sellers on Amazon and other marketplaces. “There is an opportunity to help millions of sellers use data and econometrics to help them make better decisions about pricing, advertising and inventory selection. The technology we’re building at Teikametrics is helping retailers and brands in this dynamic new Competition in the retail economy – this is the future of retail,” Hausman said in a statement. Having advisors like Dr. Hausman applying advanced data science techniques in the Amazon ecosystem will only make the online giant stronger.

contribute

Hausman has authored numerous research articles in theoretical and applied econometrics. He is best known for developing the Durbin-Wu-Hausman test and has conducted extensive research in the telecommunications industry and price index estimation.

Durbin-Wu-Hausman test

This well-known statistical test shows how well a statistical model corresponds to the research data. Known as the Durbin-Wu-Hausman test, it is a test of the endogeneity of an econometric model and helps statisticians determine whether the model is ultimately valid for calculating a p-value, basically statistically significant or not Bottom line. significance.

Telecommunications

Hausman is a recognized expert in the economics of the telecommunications industry. His applied research in the field ranges from the impact of taxation and industry regulation to the consumer welfare of cellular telephony and network innovations. For example, his research on telecommunications taxes shows that taxing wireless services imposes a far greater burden on the economy than they raise for the government..

price index

Hausman’s recent work has also included a focus on price indices, such as the Consumer Price Index (CPI), and the benefits to consumers of lower prices through large discount retailers. His research shows that failure to properly account for lower prices offered by retailers such as Walmart Supercenters, changes in shopping patterns brought about by consumers taking advantage of lower prices, and the increased quality of differentiated products and services offered by these stores all contribute to Bringing a substantial upward bias to the CPI.

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