Akcigit and Bonhomme Receive Named ProfessorshipsJanuary 1, 2020
The Kenneth C. Griffin Department of Economics is pleased to announce two of our faculty have received named professorships.
Ufuk Akcigit has been named the inaugural Arnold C. Harberger Professor in the Kenneth C. Griffin Department of Economics and the College. A macroeconomist who examines economic growth, entrepreneurship, and the economics of innovation, productivity, and firm dynamics, Akcigit is a leader in the study of innovation and its role in economic growth. By recruiting microlevel data to inform macroeconomic models, his work unites traditionally separate approaches in the field. By compiling large-scale historical and international datasets, he brings empirical evidence to bear on questions of longstanding theoretical interest. Akcigit’s contributions to scholarship and policy have been recognized by a number of prestigious awards, including a National Science Foundation Career Award, the Asaf Savas Akat Economics Prize, and the Kiel Institute Excellence Award in Global Economic Affairs. Most recently, he was awarded the 2019 Max Planck-Humboldt Research Award. His research is widely cited in policy reports, including those issued by the World Bank and the International Monetary Fund.
Stéphane Bonhomme has been named the Ann L. and Lawrence B. Buttenwieser Professor in the Kenneth C. Griffin Department of Economics and the College. An econometrician with methodological focus on latent variable modeling and panel data, Bonhomme forges connections between econometric theory and econometric practice—an important tradition for UChicago economics. He has contributed to several important lines of research, including how to accommodate heterogeneity—a long-standing problem in the social sciences—in a flexible but feasible way. Some of the questions he addresses in his empirical work include the study of income inequality and mobility, the role of firms and workers in wage determination, and the joint dynamics of income and consumption. His research has been internationally recognized by a number of publications in top journals in economics. He is a fellow of the Econometric Society and of the International Association for Applied Econometrics, a co-editor of the Econometric Society Monograph Series, and an associate editor of the Journal of Econometrics, Quantitative Economics, and the Journal of Economic Methods. He previously served as a co-editor of the Review of Economic Studies.
UChicago Fed Challenge Team Wins RegionalsNovember 7, 2019
The Kenneth C. Griffin Department of Economics is pleased to announce our UChicago Fed Challenge Team won the Regional Fed Challenge Competition on October 30th. They will advance to the National Fed Competition in Washington, DC on November 22nd. (Top photo: Front row: Ruilin Yang, Alena Kang-Landsberg, Christopher Zhao, Xiaoyuan Ma, Kanit Kuevibulvanich (Assistant Team Faculty Adviser). Second row: Kotaro Yoshida (Team Faculty Adviser), Andrew Pyper, Esteban Mendoza, Benjamin Weinberg, Zhi Zhang, Rachit Surana.) (Bottom photo: Fed Challenge Team presenters Christopher Zhao, Esteban Mendoza, Andrew Pyper, Ruilin Yang, Alena Kang-Landsberg.) Photo credit: the Federal Reserve Bank of Chicago.
List, et al: New Study Reveals Nearly Two-thirds of Uber Riders Never TipOctober 22, 2019
Even though ride-share company Uber launched the option to tip drivers over two years ago, recent research shows riders choose to tip less than one-fifth of the time. According to a new working paper co-authored by John List of the Kenneth C. Griffin Department of Economics, Uber customers tip on roughly 16% of rides. Those who do tip add an average of $3.11, about 26% of their fare. The paper also found that nearly 60% of ride-share customers never tip, while only about 1% always tip.
Field experiments provide an empirical look at consumer behavior that wouldn’t be possible otherwise. In this case, we found clear differences in tipping behavior informed by environmental and demographic factors, such as gender, age and race. -- John List
The paper, available here, examined UberX trips from Aug. 18, 2017 to Sept. 14, 2017. A pioneer in the use of field experiments, List and his fellow researchers helped design and implement in-app tipping for Uber. That gave them a chance to generate data during the rollout of the feature in 2017, collecting information from more than 40 million trips. Previously the chief economist at Uber, List now serves in the same role at Lyft. (Credit: UChicago News/Jack Wang)