Daniel L. McFadden

AAA

DEFINITION of 'Daniel L. McFadden'

An American econometrician and winner, along with James Heckman, of the 2000 Nobel Memorial Prize in Economic Sciences for his microeconometric analysis of individual and household behavior. Daniel L. McFadden has also conducted research on deviations from the economic theory of choice and the economic status of elderly Americans.

INVESTOPEDIA EXPLAINS 'Daniel L. McFadden'

Born in 1937 in North Carolina, McFadden has worked as a professor of economics at the University of California at Berkeley and has also taught at Yale and the Massachusetts Institute of Technology. He has authored several books and won the John Bates Clark medal, among numerous other awards and recognitions.

RELATED TERMS
  1. James J. Heckman

    An American economist who won the 2000 Nobel Memorial Prize in ...
  2. Social Choice Theory

    Individual preferences are aggregated to produce a social welfare ...
  3. Econometrics

    The application of statistical and mathematical theories to economics ...
  4. Statistics

    A type of mathematical analysis involving the use of quantified ...
  5. Current Liquidity

    The total amount of cash and unaffiliated holdings compared to ...
  6. Developed To Net Premiums Earned

    The ratio of developed premiums to net premiums earned over a ...
Related Articles
  1. How Influential Economists Changed Our ...
    Fundamental Analysis

    How Influential Economists Changed Our ...

  2. The Uncertainty Of Economics: Exploring ...
    Economics

    The Uncertainty Of Economics: Exploring ...

  3. Why Can't Economists Agree?
    Economics

    Why Can't Economists Agree?

  4. What is the Education Savings Bond Program?
    Bonds & Fixed Income

    What is the Education Savings Bond Program?

Hot Definitions
  1. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  4. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  5. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  6. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
Trading Center