McFadden is director of UC Berkeley's Econometrics Laboratory, and his current research focuses on the economic status of the elderly and the adequacy of their housing arrangements, financial planning and the delivery and cost of health services. His research has had profound effects on public policy issues including alternative modes of transportation, electricity usage, attitudes about clean air initiatives and regulation. In addition to winning the Nobel Prize, he was awarded the prestigious Nemmers Prize in economics from Northwestern University in 2000. McFadden is frequently interviewed in the media and recently participated in a National Public Radio panel discussion about Social Security. A native of North Carolina, McFadden earned his B.S. in physics, with high distinction at the University of Minnesota in 1957, and his Ph.D. in behavioral science (economics) at the University of Minnesota in 1962.