About the Center

In the fall of 2004, The Initiative on Chicago Price Theory was established as a University-wide research center that is administered and stewarded by the Graduate School of Business (GSB) and is located at the GSB's Charles M. Harper Center. The Center builds on the rich tradition of Chicago Price Theory that emphasizes the fundamental role of markets and incentives in understanding and improving all aspects of modern life.

In April 2006, the Becker Center hosted its first event, The Initiative on Chicago Price Theory Conference. During the conference, the research center was named for Gary S. Becker becoming the Becker Center on Chicago Price Theory, Founded by Richard O. Ryan, MBA ’66.

Support for the Center

The goal behind the creation of the center was to guarantee that the University of Chicago remains at the leading edge of price theory research. Mr. Ryan in his remarks at the dinner honoring Gary Becker noted "the wide range of insightful and socially relevant analyses that this group of economists has generated, most of which have policy implications, is testimony to the vitality and quality of this Chicago Initiative."

In addition to the extremely generous support provided by Richard O. Ryan, MBA '66 as founder of the Becker Center, we are grateful to many others who have provided support. We wish to acknowledge Mr. Ralph Gidwitz, '74 (XP-34); Betsy Gidwitz; Ira Goldberg, ’91; Mark Hudoff, ’92; Richard Kayne; Benjamin Klein; Michael D. Lockhart, MBA '75; The Milken Family Foundation; The James B. McWethy Family Foundation; Michael Moore; Quellos Group LLC; Sherman Shapiro; The Searle Freedom Trust; Todd Warnock, ’88; Vishal Verma, '07 (XP-76); Dean Snyder; the Provost's Office; the University of Chicago Social Sciences Division; and the Graduate School of Business.

The Center's Leadership

Three professors helped establish this research center devoted to Chicago Price Theory. Steven D. Levitt, the Alvin Baum Professor of Economics and winner of the 2003 John Bates Clark Medal, has been appointed the Director for the initial three year term. The other faculty involved are Gary S. Becker, the University Professor of Economics in the Departments of Economics and Sociology, and the Graduate School of Business; and Kevin M. Murphy, the George J. Stigler Distinguished Service Professor of Economics in the Department of Economics, the Graduate School of Business, and the Law School.

A distinguished board of directors provides guidance to the Becker Center on Chicago Price Theory. The board includes two Nobel laureates.