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Faculty Fellow

Ali Hortacsu

Ralph and Mary Otis Isham Professor in Economics and the College University of Chicago

Biography

Ali Hortacsu's research is focused on empirically assessing the efficiency of markets. He uses detailed micro-level market data to estimate preference and technology parameters that rationalize individual behavior. He then uses the estimated preferences and technological parameters to construct (constrained) "efficient" benchmarks and assess how far observed market outcomes are from efficiency. This comparison also motivates discussions of how market rules can be altered to improve efficiency. Hortacsu has applied this framework to many market settings, including financial markets, energy markets, and the Internet, and a variety of market clearing mechanisms, including auctions, matching, and costly search.

Project

Economic Analysis of Ancient Trade: The Case of the Old Assyrian Merchants of the 19th Century BCE

2015 – 2018