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Jerry A. Hausman is the MacDonald Professor of Economics at MIT. Professor Hausman received a D.Phil. (Ph.D.) degree from Oxford University where he was a Marshall Scholar. He has been a faculty member at MIT for 45 years. Professor Hausman received the John Bates Clark Award from the American Economics Association in 1985 for the most outstanding contributions to economics by an economist under 40 years of age. He also received the Frisch Medal from the Econometric Society and the Biennial Medal of the Modeling and Simulation Society of Australia and New Zealand. In 2013 he was named a Distinguished Fellow of the American Economic Association. Professor Hausman’s research concentrates on econometrics and applied microeconomics. His applied research has been in demand for differentiated products, telecommunications, regulation, the effects of taxation on the economy, and industrial organization.