James J. Heckman
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2000
Born: 19 April 1944, Chicago, IL, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: “for his development of theory and methods for analyzing selective samples”
Prize share: 1/2
James Heckman was born in Chicago, Illinois, USA. He attended college in Colorado Springs, Colorado, where he majored in mathematics. He studied economics at Princeton University, where he earned his Ph.D. in 1971. He taught at several institutions before joining the economics faculty at the University of Chicago. Heckman is married with two children.
James Heckman received the Prize in Economic Sciences for his development of theory and methods used in the analysis of individual or household behavior. His work in selective samples led him to develop methods (such as the Heckman correction) for overcoming statistical sample-selection problems. His research has given policymakers new insights into areas such as education, job training and the importance of accounting for general equilibrium in the analysis of labor markets.
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