Becker Friedman Institute for Economics

28 May 2025

Stay informed with BFI's Weekly Briefing🗞️—your source for the latest research insights, upcoming events, and more from the Becker Friedman Institute for Economics. 👉Subscribe now: bfi.uchicago.edu/subscribe

19 Aug

How does curiosity relate to early learning? New research from Ariel Kalil, Mauricio Koechlin, Michelle Michelini, Dana McCoy & Terri Sabol introduces a new way to measure curiosity in preschoolers—and finds both measures are associated with vocabulary.

bfi.uchicago.eduA Novel Assessment of Epistemic Curiosity and its Association With Early Learning Outcomes | Becker Friedman InstituteCuriosity has emerged as an essential skill for children to thrive in the twenty-first century, with organizations including the World Economic Forum and the OECD listing it among essential skills for...

19 Aug

18 Aug

How valuable are behavioral policies compared with traditional price incentives? New research from @johnlist.bsky.social, Matthias Rodemeier, Sutanuka Roy & Gregory K. Sun finds that nudges can generate demand responses comparable to substantial price interventions.

bfi.uchicago.eduThe Value of Behavioral Policies | Becker Friedman InstituteWhat are the best ways for policymakers to encourage desirable behaviors, such as reduced electricity use or higher vaccination rates? A traditional approach points to using price interventions to tax...

18 Aug

Nudges deliver high welfare returns at the margin, but price instruments often generate greater total surplus at scale. Read the new BFI brief, based on Working Paper 2026-106, “The Value of Behavioral Policies”: bfi.uchicago.edu/insights/the...

14 Aug

In case you missed it: Catch up on the latest economic research and insights from UChicago economists in the BFI Weekly Briefing. Read the latest—and subscribe for future editions: mailchi.mp/uchicago/bfi...

11 Aug

Before the new academic year begins, meet the scholars behind BFI. BFI brings together leading researchers across economics and related fields to exchange perspectives, spark new ideas, and build collaborations. Meet our scholars: bfi.uchicago.edu/scholars/

11 Aug

How do firms, industries, and markets interact? BFI’s Industrial Organization Initiative advances research on competition, antitrust, regulation, and data-driven decision-making across industries.

bfi.uchicago.eduIndustrial Organization Initiative | Becker Friedman InstituteDescription Industrial Organization is a large, responsive, and policy-relevant field of economics. Always active both theoretically and, especially during the past couple of decades, empirically, the...

11 Aug

Led by Faculty Directors Ali Hortaçsu and Gunter J. Hitsch, the initiative explores a policy-relevant field with growing connections to development, macroeconomics, corporate finance, and more. Explore the initiative and its research: bfi.uchicago.edu/initiative/i...

bfi.uchicago.eduEvents | Becker Friedman Institute

7 Aug

A new academic year is just around the corner! Stay up to date with lectures, conferences, workshops, and conversations featuring leading economists at the Becker Friedman Institute. See what's coming up: bfi.uchicago.edu/events/

7 Aug

How do people really make decisions? Inspired by Richard Thaler's pioneering work in behavioral economics, Eight-ball by Juan Arango Palacios explores uncertainty, choice, and the social pressures that shape human behavior. See the artwork and the research behind it.

mailchi.mpWould Talking to a Stranger Make You Happier?

7 Aug

In case you missed it: The latest BFI Weekly Briefing is here. Explore new economics research, a new episode of The Pie, working papers, upcoming events, and recent media featuring UChicago economists. Read the latest briefing and subscribe: mailchi.mp/uchicago/bfi...

bfi.uchicago.eduTalking to Strangers: The Economics of Social Connection | Becker Friedman InstituteNew research shows that people are strikingly bad at predicting how good it feels to connect with a stranger. In this episode of The Pie, Nick Epley, a professor of behavioral science at the Universit...

6 Aug

ICYMI 🎧 Why are we so reluctant to talk to strangers—even when those conversations often make us feel better? Nicholas Epley joins The Pie to discuss new research on the economics of social connection and what we're missing by staying silent. Listen: bfi.uchicago.edu/insights/tal...

Why do so many of us avoid talking to strangers? New research suggests it's because we're surprisingly bad at predicting how good those conversations will actually feel. 🎙️ New episode of The Pie: bfi.uchicago.edu/insights/tal...

Tess Vigeland speaks with Nicholas Epley, Professor of Behavioral Science at Chicago Booth School of Business and author of A Little More Social, about findings from more than 120 experiments on social connection.

The conversation explores why we avoid reaching out, what drives those decisions, and what we may be missing as a result. 🎧 Listen/watch: bfi.uchicago.edu/insights/tal...

bfi.uchicago.eduHealth Economics Initiative | Becker Friedman InstituteDescription The US and countries around the world are spending a substantial and rising share of income on health care. The care that is delivered today and the innovation available tomorrow are drive...

How can economics improve health care? Led by @gottliebecon.bsky.social and @profnoto.bsky.social, the BFI Health Economics Initiative brings together UChicago scholars to study the policies, markets, and behaviors that shape health care. bfi.uchicago.edu/initiative/h...

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As health care spending continues to grow and new technologies reshape medicine, economic analysis can help answer critical questions about costs, access, incentives, and outcomes.

Explore the initiative, meet its affiliated scholars, and discover the latest research: bfi.uchicago.edu/initiative/h...

The initiative supports research on: • Public & private insurance markets • Physician & patient behavior • Medical innovation • Administrative costs • Labor economics • Health policy

bfi.uchicago.eduBFI Working Papers | Becker Friedman Institute

19 May

Go beyond published research. BFI’s Working Paper Series features new economic insights—before they reach journals. bfi.uchicago.edu/working-pape...

bfi.uchicago.eduThe Rise of Healthcare Jobs | Becker Friedman InstituteWhile the decline in manufacturing employment has received ample attention, the healthcare industry has rather quietly become the nation’s dominant employer. Indeed, the increase in healthcare employm...

12 May

Healthcare is now the largest industry by employment in the United States—and healthcare workers’ earnings have risen nearly twice as fast as those in other industries since 1980. Research by @gottliebecon.bsky.social, Kevin Rinz, Neale Mahoney, & Victoria Udalova: bfi.uchicago.edu/insights/the...

12 May

Wage gains were especially strong for middle-and upper-middle-income healthcare workers, reshaping opportunities across the labor market. But regions hit by manufacturing losses did not broadly transition from “manufacturing to meds.”

12 May

The research also highlights that healthcare workers remain predominantly female, underscoring how industry growth has intersected with long-standing labor market patterns.

5 May

Have you taken a Lyft, shopped at Walmart, or used Facebook in the last decade? You may have been part of a @johnlist.bsky.social experiment. On The Pie, List discusses his new book Experimental Economics: Theory in Practice and what real-world experiments reveal about behavior.

bfi.uchicago.eduLife as a Lab: John List on the Art and Ethics of Field Experiments | Becker Friedman InstituteHave you taken a Lyft, shopped at Walmart, or used Facebook in the last decade? If so, you’ve likely been a participant in one of John List’s experiments. In this episode of The Pie, List, Professor o...

5 May

From a Wisconsin baseball-card table to the White House, Lyft, and Walmart, List shares lessons, mistakes, and the ethical questions behind three decades of discovery. 🎧 bfi.uchicago.edu/insights/lif...

29 Apr

At BFI, it starts with bold ideas—and the 200+ economists who pursue them. From cutting-edge research to global impact, the Chicago tradition continues to shape a more informed world. The greatest discoveries lie ahead. https://ow.ly/jj0H50YS13B

ow.lyCall for Papers: 2026 AI in Social Science Conference | Becker Friedman InstituteHow is artificial intelligence (AI) going to change social science and how is social science going to change how AI is used? This cross-disciplinary conference will facilitate dialogue and generate insights into innovative methodologies, novel datasets, and emerging technologies that can reshape our understanding of the world and push the boundaries of knowledge across disciplines Read more...

29 Apr

DEADLINE APPROACHING: Submit by May 1 Call for papers: 2026 AI in Social Science Conference 📍 UChicago | Oct 8–9 Join a cross-disciplinary conversation on how AI is reshaping social science—and vice versa. Submit your paper: https://ow.ly/YgVv50YRS7I

BFI at UChicago announces the 2026 Price Theory Summer Camp cohort—40 PhD students from 25 institutions worldwide. A cornerstone of BFI’s Price Theory Initiative, the program brings top young economists to campus for intensive training. bfi.uchicago.edu/news/becker-...

Now in its 16th year, the Summer Camp has 450+ alumni, with 82% pursuing academic careers. This year’s cohort will join a global network of economists trained in applying core economic tools to real-world problems.

Why did markets stay calm as political pressure on the Fed intensified? In a new episode of The Pie, Randall Kroszner explains why investors still trust the system—and what that says about U.S. institutions. bfi.uchicago.edu/insights/wea...

A former Fed Governor during the 2008 crisis, Kroszner points to institutional guardrails—the courts, Senate, and Treasury—as key to market stability, even amid uncertainty. Recorded live at UChicago as part of BFI’s Wealth 250.

23 Apr

What causes the wealth of nations? 250 years after Adam Smith’s Wealth of Nations, BFI is launching #Wealth250 — a yearlong look at the foundation, frontier, and future of economics. Follow along for new research, events, and more. https://ow.ly/NKOo50YOe8f

22 Apr

Happy Earth Day 🌍 From energy access to climate impacts, BFI scholars are researching how environmental challenges shape economies and policy. Explore the latest: https://ow.ly/fkmE50YOclF

17 Apr

Miss out on this week's BFI Weekly Briefing? We've got you covered. Catch up on the latest research, events, and more here: https://ow.ly/FQL750YLcf5

ow.lyResidential Segregation and Unequal Access to Local Public Services in India: Evidence from 1.5m Neighborhoods | Becker Friedman InstituteResidential segregation of marginalized groups is a well-established driver of persistent inequality in wealthy countries. Segregated communities tend to have worse access to employment networks, public services, and social capital, and face more entrenched stereotypes in the broader population.1 Most existing research, however, focuses on the United States and Europe. This research gap is significant Read more...

16 Apr

Do cities reduce inequality or reinforce it? New research from Anjali Adukia Sam Asher, Kritarth Jha, Paul Novosad, and Brandon Tan finds India’s cities often replicate caste and religious disparities seen in villages, shaping access to public services. Read more: https://ow.ly/4LFj50YK2Z2

15 Apr

What drives organized crime and how can policy respond? At the BFI-UNAB Organized Crime Conference, scholars and policymakers explored gang dynamics, extortion, recidivism, and citizen security across Latin America and beyond. More: https://ow.ly/EMNY50YK2K9

15 Apr

Who opts into school choice and who actually benefits? In this episode of The Pie, Chris Campos explains why higher-income, higher-achieving families are more likely to apply, while students who stand to gain the most often miss out. Listen: https://ow.ly/eviO50YK0Sr

ow.lyMultidimensional Signaling and the Rise of Cultural Politics | Becker Friedman InstituteIn 1992, then presidential candidate Bill Clinton’s political strategist, James Carville, famously coined a phrase to keep his candidate on message, which tidily summarizes the long-held view that voters care most about pocketbook issues: “It’s the economy, stupid.” While that assessment still holds, this research suggests that Carville’s maxim could be rephrased as, “It’s the Read more...

15 Apr

Voters say they care most about economics. So why do cultural issues dominate politics? New research from Daron Acemoglu, Georgy Egorov, and Konstantin Sonin shows how cultural positions can signal deeper economic agendas. Read more: https://ow.ly/41Pb50YJYyk

bfi.uchicago.eduResearch Brief Library | Becker Friedman InstituteThe latest commentary and analysis from BFI’s leading scholars in shorter, digestible forms.

8 Apr

Short on time, not on curiosity? 💡 BFI research briefs break down new economic research into clear, accessible insights. https://bfi.uchicago.edu/insights/research-summaries/

2 Apr

Miss out on this week's BFI Weekly Briefing? We've got you covered. 🗞️💡 Catch up on the latest research, news, events, and much more here: https://mailchi.mp/uchicago/bfi-updates-newsletter-2669852?e=63986047e2

ow.lyA Few Bad Apples? Academic Dishonesty, Political Selection, and Institutional Performance in China | Becker Friedman InstituteThis work begins with a simple statement with big implications: “Institutions act through people.” It follows that the discretionary behavior of those in power matters, and when those people, be they CEOs, judges, academic leaders, managers, politicians, and others, act dishonestly, condemnation is often swift, though some escape retribution. This is especially true in the Read more...

1 Apr

How does academic dishonesty shape public institutions? New research by Zhuang Liu, Wenwei Peng, and Shaoda Wang finds plagiarism among graduate students is widespread—and linked to worse performance in public office and negative spillovers. https://ow.ly/9jSH50YBmvT

🎙️ New episode of The Pie: The War in Iran: Oil, Cyber Warfare, and Alliances Four weeks into the conflict, oil supply is disrupted, cyberattacks are escalating, and there’s no clear exit. ⬇️ bfi.uchicago.edu/insights/the...

Featuring Tess Vigeland with UChicago experts: • Ryan Kellogg • Paul Poast • Jake Braun Why did the US strike now—and why are allies hesitant? Listen to the newest ep. of The Pie now.

📢 Call for Papers: Advances with Field Experiments (AFE) 2026 Join leading researchers using field experiments to answer big economic questions. Submit your abstract by May 29. ⬇️ bfi.uchicago.edu/events/event...

Organized by @johnlist.bsky.social (UChicago) and Robert Metcalf (Columbia), AFE 2026 brings together innovative work shaping economics, policy, and business through real-world experimentation.

Featuring keynote speakers: • Josh Angrist (MIT) • Katherine Milkman (UPenn) • Magne Mogstad (UChicago) PhD students & junior faculty strongly encouraged to apply.

It’s here! UChicago Giving Day is live—now through April 1 at 12pm. Support the Becker Friedman Institute for Economics as we celebrate 250 years of The Wealth of Nations and invest in the future of economics. ⬇️ givetoday.uchicago.edu/schools/TheU...

Your gift supports BFI’s #Wealth250 initiative—fueling: • Cutting-edge research • Public events & conferences • Podcasts, videos & data tools • Evidence-based policy impact

givetoday.uchicago.eduBecker Friedman Institute for EconomicsJoin me in the adventure and make a gift to UChicago this Giving Day!

Join us in connecting 250 years of economic insight to today’s biggest challenges—from AI to global markets. Give today: givetoday.uchicago.edu/schools/TheU...