Jerry Hausman
Biographic Data
| ID | 3960669 |
|---|---|
| NAME | Jerry Hausman |
| GIVEN NAMES | Jerry |
| FAMILY NAME | Hausman |
| SIGNATURE | HAUSMAN J |
| AFFILIATIONS | Massachusetts Institute of Technology |
| VERIFIED | No |
| TOTAL WORKS | 7 |
| TOTAL CITATIONS | 20 |
| AUTHOR COUNT | 7 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1984 |
| LATEST PUBLICATION YEAR | 2012 |
| H-INDEX | 1 |
Contingent Valuation: From Dubious to Hopeless
Approximately 20 years ago, Peter Diamond and I wrote an article for this journal analyzing contingent valuation methods. At that time Peter's view was that contingent valuation was hopeless, while I was dubious but somewhat more optimistic. But 20 years later, after millions of dollars of largely government-funded research, I have concluded that Peter's earlier position was correct and that contingent valuation is hopeless. In this paper, I sele…
Estimation With Many Instrumental Variables
Using many valid instrumental variables has the potential to improve efficiency but makes the usual inference procedures inaccurate. We give corrected standard errors, an extension of Bekker to nonnormal disturbances, that adjust for many instruments. We find that this adjustment is useful in empirical work, simulations, and in the asymptotic theory. Use of the corrected standard errors in t-ratios leads to an asymptotic approximation order that …
Sources of Bias and Solutions to Bias in the Consumer Price Index
Four sources of bias in the Consumer Prices Index (CPI) have been identified. The most discussed is substitution bias, which creates a second order bias in the CPI. Three other changes besides prices changes create first order effects on a correctly measured cost of living index (COLI). I explain in this paper that a “pure price” based approach of surveying prices to estimate a COLI cannot succeed in solving the 3 problems of first order bias. I …
Mismeasured Variables in Econometric Analysis: Problems from the Right and Problems from the Left
The effect of mismeasured variables in the most straightforward regression analysis with a single regressor variable leads to a least squares estimate that is downward biased in magnitude toward zero. I begin by reviewing classical issues involving mismeasured variables. I then consider three recent developments for mismeasurement econometric models. The first issue involves difficulties in using instrumental variables. A second involves the cons…
Cellular Telephone, New Products, and the CPI
Since their introduction in 1983, cellular telephones' adoption has grown at 25%–35% per year. At year end 1997, about 55 million cellular telephones were in use in the United States. The Bureau of Labor Statistics (BLS) did not know that cellular telephones existed, at least in terms of calculating the Consumer Price Index (CPI), until 1998 when they were finally included in the CPI. Omitting cellular telephones from the CPI created a significan…
Econometric Models for Count Data with an Application to the Patents-R & D Relationship
This paper focuses on developing and adapting statistical models of counts (nonnegative integers) in the context of panel data and using them to analyze the relationship between patents and R & D expenditures. Since a variety of other economic data come in the form of repeated counts of some individual actions or events, the methodology should have wide applications. The statistical models we develop are applications and generalizations of the Po…
Specification Tests for the Multinomial Logit Model
Contingent Valuation: From Dubious to Hopeless
Approximately 20 years ago, Peter Diamond and I wrote an article for this journal analyzing contingent valuation methods. At that time Peter's view was that contingent valuation was hopeless, while I was dubious but somewhat more optimistic. But 20 years later, after millions of dollars of largely government-funded research, I have concluded that Peter's earlier position was correct and that contingent valuation is hopeless. In this paper, I sele…
Econometric Models for Count Data with an Application to the Patents-R & D Relationship
This paper focuses on developing and adapting statistical models of counts (nonnegative integers) in the context of panel data and using them to analyze the relationship between patents and R & D expenditures. Since a variety of other economic data come in the form of repeated counts of some individual actions or events, the methodology should have wide applications. The statistical models we develop are applications and generalizations of the Po…
Specification Tests for the Multinomial Logit Model
Cellular Telephone, New Products, and the CPI
Since their introduction in 1983, cellular telephones' adoption has grown at 25%–35% per year. At year end 1997, about 55 million cellular telephones were in use in the United States. The Bureau of Labor Statistics (BLS) did not know that cellular telephones existed, at least in terms of calculating the Consumer Price Index (CPI), until 1998 when they were finally included in the CPI. Omitting cellular telephones from the CPI created a significan…
Mismeasured Variables in Econometric Analysis: Problems from the Right and Problems from the Left
The effect of mismeasured variables in the most straightforward regression analysis with a single regressor variable leads to a least squares estimate that is downward biased in magnitude toward zero. I begin by reviewing classical issues involving mismeasured variables. I then consider three recent developments for mismeasurement econometric models. The first issue involves difficulties in using instrumental variables. A second involves the cons…
Sources of Bias and Solutions to Bias in the Consumer Price Index
Four sources of bias in the Consumer Prices Index (CPI) have been identified. The most discussed is substitution bias, which creates a second order bias in the CPI. Three other changes besides prices changes create first order effects on a correctly measured cost of living index (COLI). I explain in this paper that a “pure price” based approach of surveying prices to estimate a COLI cannot succeed in solving the 3 problems of first order bias. I …
Estimation With Many Instrumental Variables
Using many valid instrumental variables has the potential to improve efficiency but makes the usual inference procedures inaccurate. We give corrected standard errors, an extension of Bekker to nonnormal disturbances, that adjust for many instruments. We find that this adjustment is useful in empirical work, simulations, and in the asymptotic theory. Use of the corrected standard errors in t-ratios leads to an asymptotic approximation order that …
Contingent Valuation: From Dubious to Hopeless
Approximately 20 years ago, Peter Diamond and I wrote an article for this journal analyzing contingent valuation methods. At that time Peter's view was that contingent valuation was hopeless, while I was dubious but somewhat more optimistic. But 20 years later, after millions of dollars of largely government-funded research, I have concluded that Peter's earlier position was correct and that contingent valuation is hopeless. In this paper, I sele…
Econometrics (6 works) · Economics (6 works) · Mathematics (4 works) · Statistics (4 works) · Computer Science (3 works) · Economic and Environmental Valuation (3 works) · Consumer Market Behavior and Pricing (2 works) · Economics of Agriculture and Food Markets (2 works) · Instrumental variable (2 works) · Microeconomics (2 works)