Three professors helped establish this research initiative devoted to Chicago Price Theory.

Steven D. Levitt, William B. Ogden Distinguished Service Professor of Economics and winner of the 2003 John Bates Clark Medal, directs the initiative. He studies a wide range of topics, including the economic aspects of crime, corruption, sports, and education. Levitt has helped develop an active and thriving program of field experimentation to explore economic issues in innovative ways. 

Joining Levitt is Kevin M. Murphy, the George J. Stigler Distinguished Service Professor in Economics, Chicago Booth, and the Law School. A recipient of a MacArthur Foundation “genius grant,” Murphy studies inequality, unemployment, and relative wages; the economics of growth and development; and the economic value of improvements in health and longevity. He coteaches seminal courses in price theory with Nobel laureate Gary S. Becker, University Professor in Economics, Sociology, the University of Chicago Booth School of Business, and the Law School. Becker also plays a key role in the initiative.

Board of Directors

A distinguished board of directors provides guidance to the Chicago Price Theory Initiative.  

Richard O. Ryan MBA’66, former President and COO of DEKALB
Andrei Shleifer Professor of Economics at Harvard University
George Shultz Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution

We also acknowledge the contributions of the late Milton Friedman, Paul Snowden Russell Distinguished Service Professor Emeritus in Economics, and the late Ronald Coase, Clifton R. Musser Professor Emeritus of Economics. to our board and to the field of price theory.