[Rerun] Ariel Pakes, Professor and Economist, Harvard University

Welcome back to The Mixtape with Scott. I’m currently in the process of putting together a new slate of interviews, and while it’s not quite ready yet, I didn’t want to leave you hanging. So in the meantime, I’m re-sharing some conversations from earlier seasons — episodes that I think are worth revisiting or perhaps discovering for the first time.

Today’s rerun is from Season Two, and it’s one of my favorite interviews from that time: my conversation with Ariel Pakes, the Thomas Professor of Economics at Harvard University.

This was such a fun and rich interview. People either know Dr. Pakes very well or only by the letter “P”. He’s a towering figure in industrial organization and structural econometrics, with landmark contributions both theoretical and applied. Among many things, he’s the “P” in the Berry-Levinsohn-Pakes model — BLP — which remains one of the most influential tools for estimating demand in differentiated product markets. That paper — Automobile Prices in Market Equilibrium — published in Econometrica in 1995, has had a ripple effect not just in economics, but well beyond it.

But this interview wasn’t just about methods and models. Dr. Pakes and I talked about basketball, about growing up in a radical socialist youth group, about his early love of philosophy, and his own path through Harvard as a young man trying to straddle economics and philosophy before finding his place. He spoke softly, with depth and reflection, and he offered a glimpse into how he works — by getting himself in way over his head and then slowly, patiently, working his way out. It’s a way of thinking that hasn’t just shaped his own work but has helped shape the rest of ours too.

I hope you enjoy this one as much as I did.

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