Discovering the Power of Free Enterprise to Create Wealth and Alleviate Poverty through a New Applied General Equilibrium Enterprise Economics

This three-year project is a collaborative research initiative among senior researchers at the University of Chicago, the Poverty Action Lab at the Massachusetts Institute of Technology, and the Economic Growth Center at Yale University. The establishment of a new field of economics - Applied General Equilibrium Enterprise Economics ("AGE3" or "Enterprise Economics") - will allow deep innovation and multidisciplinary study toward free enterprise-based solutions to poverty. This research leverages $8.75 million in NICHD and NSF funding for research on enterprise and will generate new knowledge on free enterprise, wealth creation, and poverty alleviation.

Grant Amount:

$3,344,351

Start Date:

August 2007

End Date:

July 2010

Grant ID:

12470

Senior Research Team:

Gary S. Becker, Nobel Laureate
University Professor
Departments of Economics, Booth School of Business, and Sociology
University of Chicago (Chicago, Illinois)

James J. Heckman, Nobel Laureate
Henry Schultz Distinguished Service Professor
Department of Economics
University of Chicago (Chicago, Illinois)

Robert E. Lucas, Jr., Nobel Laureate
John Dewey Distinguished Service Professor of Economics
Department of Economics
University of Chicago (Chicago, Illinois)

Fernando Alvarez
Department of Economics
University of Chicago (Chicago, Illinois)

Lars Hansen, Homer J. Livingston Distinguished Service Professor
Department of Economics
University of Chicago (Chicago, Illinois)

Ali Hortaçsu
Department of Economics
University of Chicago (Chicago, Illinois)

Alan Kolata, Neukom Family Distinguished Service Professor of Anthropology and of Social Sciences
Department of Anthropology
University of Chicago (Chicago, Illinois)

Kevin Murphy, George J. Stigler Distinguished Service Professor of Economics
Booth School of Business
University of Chicago (Chicago, Illinois)

Abhijit Banerjee, Ford Foundation International Professor of Economics
Co-Director, Poverty Action Lab
Department of Economics
Massachusetts Institute of Technology (Cambridge, Massachusetts)

Esther Duflo, Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics
Co-Director, Poverty Action Lab
Department of Economics
Massachusetts Institute of Technology (Cambridge, Massachusetts)

Mark Rosenzweig, Frank Altschul Professor of International Economics
Director, Economic Growth Center
Department of Economics
Yale University (New Haven, Connecticut)

Christopher Udry, Henry J. Heinz II Professor of Economics
Chair, Department of Economics
Yale University (New Haven, Connecticut)