Jerry A. Hausman: Renowned Economist and Telecommunications Expert

An in-depth biography of Jerry A. Hausman, an esteemed economics professor and director of the MIT Telecommunications Economics Research Program.

Biography of Jerry A. Hausman

Jerry A. Hausman, a distinguished American economist, is best known for his role as professor of economics at the Massachusetts Institute of Technology (MIT) and as the director of the MIT Telecommunications Economics Research Program. His work in econometrics, applied microeconomics, and telecommunications economics has made significant contributions to academic research and policy development.

Education and Career

Jerry A. Hausman completed his undergraduate education at Brown University and earned his Ph.D. in Economics from Nuffield College, Oxford University. Since joining MIT, he has held various prestigious positions and garnered numerous accolades for his work and contributions to economics.

Contributions to Economics

Econometrics

Hausman has made substantial contributions to econometrics, notably with the development of the Hausman Specification Test. This test facilitates the determination of whether an econometric model’s specification is appropriately chosen, distinguishing between fixed and random effects in panel data analysis.

Telecommunications Economics

As the director of the MIT Telecommunications Economics Research Program, Hausman has delved deeply into the economics of telecommunications, focusing on regulatory impacts, pricing, and market structures. His research provides insights into the optimal regulation of the telecommunications industry, addressing critical issues like spectrum allocation and competition policy.

Significant Works and Publications

Key Research Papers

Hausman authored several influential research papers, such as:

• “Specification Tests in Econometrics” (1978), which introduced the Hausman Specification Test.
• “Valuation of New Goods under Perfect and Imperfect Competition” (1996), exploring new product valuation.

Books

Hausman has also contributed to academic literature through various books and edited volumes that focus on econometrics and telecommunications economics.

Awards and Recognitions

Fellowships and Honors

Jerry A. Hausman has been recognized by several prestigious institutions, including being elected a Fellow of the Econometric Society and the National Academy of Sciences. His pioneering work has earned him numerous awards that highlight his influence in the field of economics.

FAQs

What is the Hausman Specification Test?

The Hausman Specification Test is a statistical test used in econometrics to determine whether the chosen model specification is correct, especially addressing the issue of endogeneity in model variables.

Where does Jerry A. Hausman currently teach?

Jerry A. Hausman is currently a professor of economics at the Massachusetts Institute of Technology (MIT).

Related Terms

• Econometrics: A branch of economics concerned with the use of mathematical and statistical methods to describe economic systems.
• Telecommunications Economics: A field of economics that examines the economic principles and policies affecting the telecommunications industry, including pricing, regulation, and market competition.

References

• Hausman, J. A. (1978). “Specification Tests in Econometrics.” Econometrica.
• Hausman, J. A. (1996). “Valuation of New Goods under Perfect and Imperfect Competition.”

Summary

Jerry A. Hausman is a significant figure in the field of economics, known for his extensive research and contributions to econometrics and telecommunications economics. As an esteemed professor at MIT and a prolific author, his work continues to influence both academic research and practical policy-making in these domains. His groundbreaking advancements, particularly the Hausman Specification Test, highlight his legacy within the economics community.