Peter Hudomiet

Contact Information

Associate Economist

Santa Monica Office

Education

PhD in economics, University of Michigan; MA in economics, Central European University; MSc in technical informatics, Budapest University of Technology and Economic

Overview

Peter Hudomiet is an associate economist at the RAND Corporation. His research interests include applied econometrics, labor economics, economics of aging and health economics.

Most recently Hudomiet published papers about trends in the prevalence of dementia in the U.S.; about subjective and objective job demands at older ages; and about the effect of psychological factors and personality traits on retirement outcomes.

Currently, he is conducting research on dementia (prevalence, trends in prevalence, lifetime risks, associated costs); retirement (non-traditional retirement paths, job mismatch, cognitive and health barriers to extend working lives, effects of technological change), and on the accuracy of subjective probabilistic expectations (mortality expectations, job loss expectations, improving measurement of subjective expectations). Hudomiet has a Ph.D. in economics from the University of Michigan, a MA in economics from the Central European University and a M.Sc. in computer science from the Budapest University of Technology.

Research Focus

Recent Projects

Trends in dementia prevalence in the U.S.
Monetary costs of dementia in the U.S.
Cognitive abilities, occupational skills and retirement
Psychological factors in transitions from work to retirement
Subjective expectations and probability numeracy

Selected Publications

Peter Hudomiet and Robert J. Willis, "Estimating Second Order Probability Beliefs from Subjective Survival Data," Decision Analysis, 10(2), 2013

Peter Hudomiet, Gabor Kezdi and Robert J. Willis, "Stock Market Crash and Expectations of American Households," Journal of Applied Econometrics, 26(3), 2011

Honors & Awards

ISR-George Katona Research Award Fund in Economic Behavior, University of Michigan
Rackham International Student Fellowship, University of Michigan
Academic Pro-Rector’s Excellence Award, Central European University

Publications

Journal Article
Journal Article
The Relationship Between Lifetime Out-of-Pocket Medical Expenditures, Dementia, and Socioeconomic Status in the U.S.
This paper estimates cumulative lifetime medical expenditures that can be attributed to the onset of dementia using a nationally representative longitudinal survey from the U.S., the Health and Retirement Study.
Dec 18, 2018
Draft
Draft
Measuring Probability Numeracy
Explores different batteries of questions to measure levels of probability numeracy, the ability of individuals to think in probabilistic terms and use probabilities effectively in everyday life.
Sep 25, 2018
Journal Article
Journal Article
A Comparison of Subjective and Objective Job Demands and Fit With Personal Resources as Predictors of Retirement Timing in a National U.S. Sample
The purpose of this study is to extend prior research on our understanding of the connection between the experience of work and retirement timing.
Aug 17, 2018
Research Brief
Many Americans Follow Nontraditional Paths to Retirement: Cognitive Ability and Personality Traits Influence This Process
Most U.S. seniors follow nonstandard retirement pathways. Seniors with better cognitive ability were more likely to follow nonstandard retirement pathways: In a studied sample, 59.1 percent of those with high cognitive ability had a job after age 65.
Jul 30, 2018
Journal Article
Dementia Prevalence in the United States in 2000 and 2012: Estimates Based on a Nationally Representative Study
The prevalence of dementia in the U.S. among those 65 or older decreased between 2000 and 2012, although less rapidly than reported in other studies.
Apr 27, 2018
Journal Article
Journal Article
Cognitive Ability, Personality, and Pathways to Retirement: An Exploratory Study
This paper explores the utility of two prominent psychological variables - cognitive ability and personality - as predictors, while also substantially expanding the detail with which retirement pathways can be characterized.
Apr 3, 2018
Journal Article
Journal Article
Estimating Second Order Probability Beliefs from Subjective Survival Data
Based on subjective survival probability questions in the Health and Retirement Study HRS, we use an econometric model to estimate the determinants of individual-level uncertainty about personal longevity.
2013
Journal Article
Journal Article
Stock Market Crash and Expectations of American Households
This paper utilizes data on subjective probabilities to study the impact of the stock market crash of 2008 on households' expectations about the returns on the stock market index.
2011