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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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Scholars
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...
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Insights
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      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
  - - 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
  - - 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
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      BFI Youtube Channel
      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
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Media Mention·Oct 17, 2025

This year’s Nobel Prize in Economics was honored by economists who recalled Joseph Schumpeter’s theory that emphasized creativity and destructiveness in economics

Maeil Business Newspaper (South Korea); James Robinson

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James Robinson

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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.
Network
Scholars
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
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
  - - 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
  - - 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
  - - Videos
      
      BFI Youtube Channel
      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
News
- - - Search

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