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Becker Friedman Institute for Economics
  • 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
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        • Global 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
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  • Scholars
    • UChicago Scholars
    • Visiting Scholars
    • Saieh Family Fellows
    • Predoctoral Research Professionals
  • Research
        • How Does AI Distribute the Pie? Large Language Models and the Ultimatum Game
          Douglas K.G. Araujo and Harald Uhlig

          As Large Language Models (LLMs) are increasingly tasked with autonomous decision-making, understanding their behavior in strategic settings is crucial. We investigate the choices of various LLMs in the Ultimatum Game, a setting where human behavior notably deviates from theoretical rationality....

          Residential Segregation and Unequal Access to Local Public Services in India: Evidence from 1.5m Neighborhoods
          Sam Asher, Kritarth Jha, Paul Novosad, Anjali Adukia, and Brandon Tan

          We study residential segregation and access to public services across 1.5 million urban and rural neighborhoods in India. Muslim and Scheduled Caste segregation in India is high by global standards, and only slightly lower than Black-White segregation in the U.S....

          Searching for Fish in Trees (緣木求魚)? Economic Development when Context Matters
          Jacob Moscona, Nathan Nunn, and James Robinson

          In this chapter, we develop a framework for analyzing the determinants of economic development and their implications for policy. We distinguish between classical determinants—such as inputs into education and health, access to credit, and geography—and non-classical determinants—including cultural values, social...

        • View All caret-right
  • Insights
        • Research Briefs

          Fast Action for Floods: Why Timing Matters in Humanitarian Cash Transfers
          Who Chooses and Who Benefits? The Design of Public School Choice Systems
          FinTech Firms Spend Much More on Sales and Marketing Than Traditional Financial Firms
        • View All caret-right
        • BFI Data Studio

          Unlocking the Power of Markets as a New Tool for Regulating Pollution
          Explore Historical Manufacturing Data
          The Hidden Volatility of American Workers’ Paychecks
        • View All caret-right
        • Podcasts

          Who Really Paid for the Tariffs? Brent Neiman on Liberation Day’s Economic Aftermath
          Venezuela After Maduro: What Comes Next?
          Why Banks Exist and Why They Fail: Douglas Diamond on Runs, Regulation, and the Risks of Short-Term Debt
        • 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

          Feb 23

          Winter 2026 Behavioral Economics Seminar Series

          Mar 2

          Winter 2026 Behavioral Economics Seminar Series

          Mar 5

          BFI Student Event: Celebrating the Foundations of Economics

        • View All caret-right
  • News
    • BFI News
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    • Press Releases

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Macroeconomic
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Affiliates, Centers, and Programs

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Projects

  • Behavioral Implications of Uncertainty in Macroeconomics (BUMP)
  • Economic Implications of COVID-19
  • Financial Market Oversight and Regulation
  • Housing, Household Debt, and the Macroeconomy
  • MFM / Macro Financial Modeling Project
  • Project on Foundational Research in Health Care Markets and Policies
  • The Monetary and Fiscal History of Latin America
  • University of Chicago Joint Program in Financial Economics
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© 2026 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
        • Global 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
        • How Does AI Distribute the Pie? Large Language Models and the Ultimatum Game
          Douglas K.G. Araujo and Harald Uhlig

          As Large Language Models (LLMs) are increasingly tasked with autonomous decision-making, understanding their behavior in strategic settings is crucial. We investigate the choices of various LLMs in the Ultimatum Game, a setting where human behavior notably deviates from theoretical rationality....

          Residential Segregation and Unequal Access to Local Public Services in India: Evidence from 1.5m Neighborhoods
          Sam Asher, Kritarth Jha, Paul Novosad, Anjali Adukia, and Brandon Tan

          We study residential segregation and access to public services across 1.5 million urban and rural neighborhoods in India. Muslim and Scheduled Caste segregation in India is high by global standards, and only slightly lower than Black-White segregation in the U.S....

          Searching for Fish in Trees (緣木求魚)? Economic Development when Context Matters
          Jacob Moscona, Nathan Nunn, and James Robinson

          In this chapter, we develop a framework for analyzing the determinants of economic development and their implications for policy. We distinguish between classical determinants—such as inputs into education and health, access to credit, and geography—and non-classical determinants—including cultural values, social...

        • View All caret-right
  • Insights
        • Research Briefs

          Fast Action for Floods: Why Timing Matters in Humanitarian Cash Transfers
          Who Chooses and Who Benefits? The Design of Public School Choice Systems
          FinTech Firms Spend Much More on Sales and Marketing Than Traditional Financial Firms
        • View All caret-right
        • BFI Data Studio

          Unlocking the Power of Markets as a New Tool for Regulating Pollution
          Explore Historical Manufacturing Data
          The Hidden Volatility of American Workers’ Paychecks
        • View All caret-right
        • Podcasts

          Who Really Paid for the Tariffs? Brent Neiman on Liberation Day’s Economic Aftermath
          Venezuela After Maduro: What Comes Next?
          Why Banks Exist and Why They Fail: Douglas Diamond on Runs, Regulation, and the Risks of Short-Term Debt
        • 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

          Feb 23

          Winter 2026 Behavioral Economics Seminar Series

          Mar 2

          Winter 2026 Behavioral Economics Seminar Series

          Mar 5

          BFI Student Event: Celebrating the Foundations of Economics

        • View All caret-right
  • News
    • BFI News
    • Media Mentions
    • Press Releases
  • Info For
    • Scholars
    • Students
    • Media
    • Pre-Doctoral Research Professionals
  • Subscribe
    • Join Our Weekly Briefing Newsletter
    • Newsletter Archive
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