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Becker Friedman Institute for Economics
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        • About the Becker Friedman Institute
          The Becker Friedman Institute for Economics (BFI) serves as a hub for cutting-edge analysis and research across the entire University of Chicago economics community, uniting researchers from the Booth School of Business, the Kenneth C. Griffin Department of Economics, the...
        • Our Legacy
          Inspired by our namesakes, Nobel Laureates Gary Becker and Milton Friedman, who believed that economics research could help improve the world, BFI works with the Chicago Economics community to turn its evidence-based research into real-world impact.
        • Pre-Doctoral Research Professionals
          The Predoctoral Research in Economics Program (PREP) is intended to serve as a bridge between college and graduate school for students interested in empirical economics. The program offers unique research and professional training opportunities at the University of Chicago.
        • Expanding Discovery in Economics+
          Expanding Discovery in Economics+ (EDE+) brings together a diverse group of early undergraduate students to hone their research abilities and technical skills.
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        • Jealousy of Trade: Exclusionary Preferences and Economic Nationalism
          Alex Imas, Kristóf Madarász, and Heather Sarsons

          This paper presents a new framework for understanding economic nationalism based on an empirically-validated desire for dominance, which generates a preference for exclusionary policies. We incorporate such preferences into a model of international trade. The model predicts that exclusionary preferences...

          Who Pays for Tariffs Along the Supply Chain? Evidence from European Wine Tariffs
          Aaron B. Flaaen, Ali Hortaçsu, Felix Tintelnot, Nicolás Urdaneta, and Daniel Xu

          This paper examines the effects of tariffs along the supply chain using product-level data from a large U.S. wine importer in the context of the 2019-2021 U.S. tariffs on European wines. By combining confidential transaction prices with foreign suppliers and...

          Option Value of Apex Predators: Evidence from a River Discontinuity
          Eyal Frank, Anouch Missirian, Dominic P. Parker, and Jennifer L. Raynor

          “Option value” provides theoretical justification for conserving wildlife species lacking known value, but empirical assessments of actual realizations are rare. We examine quasi-option value in the context of gray wolf eradication, which aimed to protect humans and their property historically,...

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          The Impact of Language on Decision-Making: Auction Winners are Less Cursed in a Foreign Language
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          Why Has Regional Income Convergence in the U.S. Declined?
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          The Economics of Early Childhood: Why the First Five Years Matter Most
          The Law of Unintended Consequences: How Dobbs Changed Contraceptive Choices
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Media Mention·Nov 24, 2021

Trump Wanted to Punish China. We’re Still Paying for It.

New York Times; Ali Hortacsu, Felix Tintelnot
Related People
  • Ali Hortaçsu
Related Research
  • The Production, Relocation, and Price Effects of US Trade Policy: The Case of Washing Machines
Related Insights
  • Production, Relocation, and Price Effects of US Trade Policy: The Case of Washing Machines
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© 2025 Becker Friedman Institute for Economics at the University of Chicago

  • About
        • About the Becker Friedman Institute
          The Becker Friedman Institute for Economics (BFI) serves as a hub for cutting-edge analysis and research across the entire University of Chicago economics community, uniting researchers from the Booth School of Business, the Kenneth C. Griffin Department of Economics, the...
        • Our Legacy
          Inspired by our namesakes, Nobel Laureates Gary Becker and Milton Friedman, who believed that economics research could help improve the world, BFI works with the Chicago Economics community to turn its evidence-based research into real-world impact.
        • Pre-Doctoral Research Professionals
          The Predoctoral Research in Economics Program (PREP) is intended to serve as a bridge between college and graduate school for students interested in empirical economics. The program offers unique research and professional training opportunities at the University of Chicago.
        • Expanding Discovery in Economics+
          Expanding Discovery in Economics+ (EDE+) brings together a diverse group of early undergraduate students to hone their research abilities and technical skills.
        • Visitors & Fellows
        • Our Team
        • BFI Employment Opportunities
        • Contact
  • Network
        • Research Initiatives
          • Big Data Initiative
          • Chicago Experiments Initiative
          • Health Economics Initiative
          • Industrial Organization Initiative
          • International Economics and Economic Geography Initiative
          • Macroeconomic Research Initiative
          • Political Economics Initiative
          • Price Theory Initiative
          • Public Economics Initiative
          • Ronzetti Initiative for the Study of Labor Markets
          • Socioeconomic Inequalities Initiative
        • View All caret-right
        • Regional Initiatives
          • BFI-China
          • BFI-Latin America
          • Tata Centre for Development
        • View All caret-right
        • Programs & Centers
          • Expanding Discovery in Economics+ (EDE+)
          • Development Economics Center
          • Global Center for Economic Growth - Growth Academy
          • Macro Finance Research Program
          • Program in Behavioral Economics Research
          • TMW Center for Early Learning + Public Health
        • View All caret-right
  • Scholars
    • UChicago Scholars
    • Visiting Scholars
    • Saieh Family Fellows
    • Predoctoral Research Professionals
  • Research
        • Jealousy of Trade: Exclusionary Preferences and Economic Nationalism
          Alex Imas, Kristóf Madarász, and Heather Sarsons

          This paper presents a new framework for understanding economic nationalism based on an empirically-validated desire for dominance, which generates a preference for exclusionary policies. We incorporate such preferences into a model of international trade. The model predicts that exclusionary preferences...

          Who Pays for Tariffs Along the Supply Chain? Evidence from European Wine Tariffs
          Aaron B. Flaaen, Ali Hortaçsu, Felix Tintelnot, Nicolás Urdaneta, and Daniel Xu

          This paper examines the effects of tariffs along the supply chain using product-level data from a large U.S. wine importer in the context of the 2019-2021 U.S. tariffs on European wines. By combining confidential transaction prices with foreign suppliers and...

          Option Value of Apex Predators: Evidence from a River Discontinuity
          Eyal Frank, Anouch Missirian, Dominic P. Parker, and Jennifer L. Raynor

          “Option value” provides theoretical justification for conserving wildlife species lacking known value, but empirical assessments of actual realizations are rare. We examine quasi-option value in the context of gray wolf eradication, which aimed to protect humans and their property historically,...

        • View All caret-right
  • Insights
        • Research Briefs

          Human Capital Accumulation Across Space
          The Breakdown of the English Society of Orders: The Role of the Industrial Revolution
          The Impact of Language on Decision-Making: Auction Winners are Less Cursed in a Foreign Language
        • View All caret-right
        • BFI Data Studio

          The Hidden Volatility of American Workers’ Paychecks
          Why Has Regional Income Convergence in the U.S. Declined?
          Building Costs and House Prices​
        • View All caret-right
        • Podcasts

          Moving to Opportunity: Together?
          The Economics of Early Childhood: Why the First Five Years Matter Most
          The Law of Unintended Consequences: How Dobbs Changed Contraceptive Choices
        • View All caret-right
        • Videos

          BFI Youtube Channel external
          Captivating and informative videos on the latest insights and trends as well as the tested stock of knowledge in economics from leaders in academia, policy, business, and the media.
  • Events
        • Upcoming Events

          Oct 23

          2025 BFI-INSPER Conference

          Oct 23

          2025 BFI-INSPER Public Keynote Sessions

          Oct 24

          Development Lunch Workshop – Fall 2025

        • View All caret-right
  • News
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    • Media Mentions
    • Press Releases
  • Info For
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