The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2000
James J. Heckman, Daniel L. McFadden
Daniel L. McFadden
Born: 29 July 1937, Raleigh, NC, USA
Affiliation at the time of the award: University of California, Berkeley, CA, USA
Prize motivation: "for his development of theory and methods for analyzing discrete choice"
Contribution: Showed how to statistically handle fundamental aspects of microdata, namely data on the most important decisions we make in life: the choice of education, occupation, place of residence, marital status, number of children, so called discrete choices.