Heckman, James J.

born April 19, 1944, Chicago, Ill., U.S.

U.S. economist and winner of the 2000 Nobel Prize in Economic Sciences, along with Daniel McFadden, for development of methods for analyzing individual or household behaviour.

Heckman studied mathematics at Colorado College (B.A. 1965) and economics at Princeton University (M.A. 1968, Ph.D. 1971). He taught at Columbia University (1970–74) and the University of Chicago (1973– ). The Heckman correction, a two-step statistical approach, offers a means of addressing errors in statistical sampling. He received the John Bates Clark medal from the American Economics Association in 1983.

* * *

▪ American economist

in full  James Joseph Heckman  

born April 19, 1944, Chicago, Illinois, U.S.

      American economist, educator, and cowinner (with Daniel McFadden (McFadden, Daniel L.)) of the 2000 Nobel Prize for Economics for his development of theory and methods used in the analysis of individual or household behaviour, such as understanding how people choose where to work, where to live, or when to get married. He was recognized as a leading researcher of the microevaluation of labour-market programs.

      Heckman studied mathematics at Colorado College (B.A., 1965) and economics at Princeton University (M.A., 1968; Ph.D., 1971). He taught at New York University (1972) and Columbia University (1970–74) before joining (1973) the economics faculty at the University of Chicago, where he was named the Henry Schultz Distinguished Service Professor of Economics in 1995. From 1988 to 1990 he also taught at Yale University. Heckman wrote numerous papers as well as several books arising from his research, and he served on the editorial staffs of a number of publications, including Journal of Econometrics, Journal of Labor Economics, The Review of Economics and Statistics, and Journal of Political Economy. In 1983 he was awarded the John Bates Clark medal by the American Economics Association, and in 1992 he was elected to the National Academy of Sciences.

      Heckman's work in selective samples led him to develop methods (such as the Heckman correction) for overcoming statistical sample-selection problems. When a sample fails to represent reality, the statistical analyses based on those samples can lead to erroneous policy decisions. The Heckman correction, a two-step statistical approach, offers a means of correcting for sampling errors.

* * *