John Rust
| John P. Rust | |
|---|---|
John Rust at his house in 2011
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| Born | May 23, 1955 |
| Nationality | United States |
| Fields | Microeconomics, Microeconometrics |
| Institutions |
Georgetown University, University of Maryland, Yale University, University of Wisconsin |
| Alma mater | Massachusetts Institute of Technology, PhD (1983) |
| Thesis | Stationary Equilibrium in a Market for Durable Assets |
| Doctoral advisor | Daniel McFadden |
| Known for | Structural estimation of dynamic models of discrete choice |
| Notable awards | Frisch Medal (1992) |
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Website Personal webpage |
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John Philip Rust (born May 23, 1955) is an American economist and econometrician. John Rust received his PhD from MIT in 1983 and taught at the University of Wisconsin, Yale University and University of Maryland before joining Georgetown University in 2012. John Rust was awarded Frisch Medal in 1992 and became the fellow of Econometric Society in 1993.
John Rust is best known as one of the founding fathers of the structural estimation of dynamic discrete choice models and the developer of the nested fixed point (NFXP) maximum likelihood estimator which is widely used in structural econometrics. However, he had published papers on broad range of topics including equilibrium in the markets of durable goods, social security, retirement, disability insurance, nuclear power industry, real estate economics, rental car industry, transportation research, auction markets, computational economics, dynamic games.
John Rust was born in Wisconsin on May 23, 1955. He graduated from Waukesha High School in 1973, completed B.A. in Mathematics in 1977 at the University of Pennsylvania, and received his Ph.D. in Economics from Massachusetts Institute of Technology in 1983. His dissertation titled “Stationary Equilibrium in a Market for Durable Assets” under the supervision of Daniel McFadden was published as Econometrica article in 1985.
After graduating from University of Pennsylvania in 1977 for two year John Rust worked as research analyst for Morgan Stanley in New York City. His first academic job was at the University of Wisconsin (assistant professor, 1983-1987, associate professor, 1987-1989, and full professor, 1990-1996), after which he had professorial positions at Yale University (1996-2001) and University of Maryland (2001-2011) before starting his current affiliation with Georgetown University.
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