Eric Budish is the Steven G. Rothmeier Professor of Economics and co-director of the Initiative on Global Markets at the University of Chicago Booth School of Business, as well as a research associate at the National Bureau of Economic Research.
Prof. Budish’s main area of research is market design, with specific topics studied including financial markets, matching markets, ticket markets, cryptocurrencies, and incentives for innovation. His research on high-frequency trading and the design of financial exchanges received the AQR Insight Award and the Leo Melamed Award, has been discussed in major policy addresses by the New York attorney general and the SEC chair, and has influenced exchange design proposals in the United States and the United Kingdom. His dissertation research concerned the matching problem of assigning students to schedules of courses, or workers to schedules of shifts. His proposed design, which applies price-theoretic competitive equilibrium ideas to a matching market, was successfully adopted for use in practice by the Wharton School in 2013 and is currently being used by several other universities.
Prof. Budish’s research on patent design and cancer R&D received the Kauffman/iHEA Award for Health Care Entrepreneurship and Innovation Research and the Arrow Award for the best paper in health economics. His most recent research concerns the economic limitations of bitcoin and the blockchain. Prof. Budish’s honors include receiving the Marshall Scholarship and the Sloan Research Fellowship, and giving the 2017 AEA-AFA joint luncheon address.