Daniel Andres Hojman photo by Tony Rinaldo
Daniel AndresHojman
2009–2010
Katherine Hampson Bessell Fellow
Harvard University
Economics
Choice, Rationality, and Welfare Measurement

Daniel Andres Hojman is an assistant professor at the John F. Kennedy School of Government at Harvard University. His main research areas are theoretical microeconomics and political economy. He has developed analytical models to study the role of social networks and social interactions. His current research interests include the choice and welfare-theoretic foundations of behavioral economics, and the impact of media and corruption on political participation.

At Radcliffe, Hojman will continue his work with Jerry R. Green, developing methods that can be applied to infer welfare from choices that are inconsistent with rational behavior. Traditional welfare economics relies on the assumption of individual rationality. It is based on the “revealed preference” method, which aims to identify a preference from observed choices. The recovered preference is then used to make welfare inferences—for example, to evaluate the economic impact of a policy. Systematic departures from rationality have been extensively documented in psychology and economics over the past decades, challenging the basic method used by economists to evaluate welfare. In “Choice, Rationality, and Welfare Measurement,” Green and Hojman propose methods based on a theory of choice that assumes that individuals hold multiple and possibly conflicting preferences. Individual choice is explained as the result of aggregating those preferences, which can be used as the basis for welfare analysis.

Hojman received his PhD in economics from Harvard University and holds prior degrees in physics and engineering from the University of Chile. He has also published poetry.

This information is accurate as of the fellowship year indicated for each fellow.