The Art and Practice of Economics Research
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The Art and Practice of Economics Research

Lessons from Leading Minds

Simon W. Bowmaker

The Art and Practice of Economics Research provides an in-depth look into the research methods of leading economists from across the United States and Europe. This innovative volume contains 25 interviews with practicing economists, presenting insightful personal accounts into an often-misunderstood field.
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Chapter: Ariel Pakes (Harvard University)

Simon W. Bowmaker


Ariel Pakes was born in Alberta, Canada and graduated with a bachelor’s degree in economics and philosophy and a master’s degree in economics from The Hebrew University of Jerusalem in 1971 and 1973 respectively. He then obtained a second master’s degree in economics as well as a PhD in economics from Harvard University in 1976 and 1979 respectively. Professor Pakes has taught economics at a number of universities, including The Hebrew University of Jerusalem, 1980–1986, the University of Wisconsin– Madison, 1986–1988, Yale University, where he was Professor of Economics between 1988 and 1997 and the Charles and Dorothea Dilley Professor of Economics between 1997 and 1999, and Harvard University, where he has taught since 1999, currently serving as the Steven McArthur Heller Professor of Economics. Professor Pakes’ research interests are industrial organization, the economics of technological change, and econometric theory. His most-cited articles in chronological order include ‘On Patents, R&D, and the Stock Market Rate of Return’, Journal of Political Economy (1985), ‘Patents as Options: Some Estimates of the Value of Holding European Patent Stocks’, Econometrica (1986), ‘Simulation and the Asymptotics of Optimization Estimators’, Econometrica (1989), co-authored with David Pollard, 342 Columns Design XML Ltd / Job: Bowmaker-Art_and_Practice_Economics_Research / Division: 18Pakes /Pg. Position: 1 / Date: 9/7 JOBNAME: Bowmaker PAGE: 2 SESS: 4 OUTPUT: Thu Aug 23 16:50:48 2012 Ariel Pakes 343 ‘Automobile Prices in Market Equilibrium’, Econometrica (1995), co-authored with Steve Berry and James Levinsohn, ‘Markov-Perfect Industry Dynamics: A Framework...

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