Revolutionary Decisions: Reshaping How We Understand Human Choice

Schaeffer Distinguished Scholar Daniel McFadden in this webinar reflected on the evolution of his groundbreaking work in choice modeling that earned him the Nobel Prize in Economics and transformed how economists analyze and think about consumer behavior and market demand.

McFadden’s research centers around how individuals make decisions among discrete alternatives, such as choosing between medical treatment options or healthcare benefit packages. In this wide-ranging conversation with Schaeffer’s Director of Public Policy Barry Liden, McFadden discussed the broad applicability of discrete choice modeling, accounting for uncertainty in people’s preferences, and how advances in cognitive psychology and neurology are changing our understanding of human decision-making.

This webinar was co-hosted by the USC Schaeffer Institute for Public Policy & Government Service, IAHPR, the PREFER Expert Network, the iHEA Health Preference Research Special Interest Group and the Erasmus Choice Modelling Centre.