Who is Steven Levitt and what is he primarily known for?

Steven David Levitt, born on May 29, 1967, is an American economist. He is widely recognized as the co-author of the best-selling book *Freakonomics* and its sequels, which he wrote with Stephen J. Dubner. His work is characterized by applying economic principles to analyze unconventional topics and everyday phenomena.

What significant academic honor did Steven Levitt receive, and in what year?

Steven Levitt received the prestigious John Bates Clark Medal in 2003. This award is presented every two years by the American Economic Association to the most promising American economist under the age of 40, recognizing significant contributions to the field.

What is Steven Levitt's current academic position and affiliation?

Steven Levitt currently holds the position of William B. Ogden Distinguished Service Professor of Economics at the University of Chicago. He is also the Faculty Director and co-founder of the Center for Radical Innovation for Social Change at the same university.

Beyond his academic role, what other significant professional ventures has Steven Levitt been involved in?

In 2009, Steven Levitt co-founded TGG Group, a consulting company focused on business and philanthropy. He also served as a co-editor for the *Journal of Political Economy*, a publication of the University of Chicago Press, until December 2007.

How has Steven Levitt's work been recognized by major media and academic surveys?

Steven Levitt was named one of *Time* magazine's "100 People Who Shape Our World" in 2006. Furthermore, a 2011 survey of economics professors ranked him as their fourth favorite living economist under the age of 60.

What is Steven Levitt's educational background, including his degrees and institutions?

Steven Levitt completed his undergraduate studies at Harvard University, earning a Bachelor of Arts (BA) in economics *summa cum laude* in 1989. He subsequently pursued his doctoral studies at the Massachusetts Institute of Technology (MIT), where he obtained his PhD in economics in 1994.

What was the subject of Steven Levitt's undergraduate thesis at Harvard University?

Steven Levitt's senior thesis at Harvard University focused on the economic concept of rational bubbles, specifically applied to the context of horse breeding. This early academic work foreshadowed his later tendency to explore economic principles in non-traditional areas.

What professional experience did Steven Levitt gain after graduating from Harvard before starting his PhD?

After completing his undergraduate degree, Steven Levitt worked as a consultant at Corporate Decisions, Inc. (CDI) in Boston. In this role, he advised Fortune 500 companies, gaining practical business experience.

What is the primary focus of Steven Levitt's academic work?

Steven Levitt has published over 60 academic papers focusing on topics such as crime, politics, and sports, all analyzed through the lens of economics. He applies microeconomic principles to understand a wide range of social behaviors and phenomena.

What was the subject of Levitt's 2000 paper, "An Economic Analysis of a Drug-Selling Gang's Finances"?

The paper "An Economic Analysis of a Drug-Selling Gang's Finances" (2000) analyzed a detailed record of a criminal gang's finances. Levitt used this data to draw conclusions about the income distribution among gang members, illustrating how economic models could illuminate the structure of criminal organizations.

What is the central argument of the controversial 2001 paper co-authored by Levitt and John Donohue III?

The paper, titled "The Impact of Legalized Abortion on Crime," posits that the legalization of abortion in the United States in 1973 was a significant causal factor in the subsequent reduction of crime rates observed approximately eighteen years later. This research linked reproductive policy to crime statistics.

According to the 2001 Donohue and Levitt study, what percentage of the crime reduction in the 1990s could be attributed to legalized abortion?

The study by Donohue and Levitt suggested that legalized abortion could account for nearly half of the reduction in crime observed during the 1990s. This implies a substantial, though indirect, impact of abortion access on societal crime levels.

How did Steven Levitt qualify the policy implications of his research on abortion and crime?

Levitt clarified that while his study aimed to understand the reasons behind crime reduction, it should not be used to form opinions on abortion policy. He stressed that the ethical considerations of abortion are separate from the statistical findings regarding crime rates.

Who challenged the findings of the Donohue-Levitt paper on abortion and crime, and what was their main point?

In 2003, Theodore Joyce challenged the findings, arguing in his research that legalized abortion had little actual impact on crime rates. This presented a direct contradiction to the conclusions drawn by Donohue and Levitt.

What criticism did Christopher Foote and Christopher Goetz level against the Donohue-Levitt paper in 2005?

Christopher Foote and Christopher Goetz published a paper in 2005 suggesting that statistical errors in the original Donohue and Levitt study were responsible for their findings. They claimed that after correcting these errors, the data indicated that abortion had actually increased violent crime.

How did Donohue and Levitt respond to the criticisms regarding statistical errors in their abortion and crime research?

In a 2006 response, Donohue and Levitt acknowledged the statistical errors in their initial paper. However, they also argued that the corrections proposed by Foote and Goetz introduced their own biases, and maintained that after adjustments, the link between abortion legalization and crime reduction remained statistically significant, though weaker.

What were the updated conclusions of the 2019 paper by Donohue and Levitt regarding abortion legalization and crime?

The 2019 paper by Donohue and Levitt concluded that their original predictions held up over time. They estimated that legalized abortion contributed to a roughly 20% fall in crime between 1997 and 2014, accounting for a substantial portion of the overall decline in crime rates since the early 1990s.

What is Steven Levitt's stance on the financial policy concept of 'too big to fail'?

Steven Levitt has expressed strong opposition to the concept of 'too big to fail' in financial policy, stating that he dislikes it. This policy refers to the idea that certain large financial institutions are so critical to the economy that their failure would be catastrophic, thus warranting government intervention.

What environmental policy does Steven Levitt advocate for?

Steven Levitt is a proponent of implementing a carbon tax. He believes it is a clear and necessary policy, noting that virtually every economist he knows agrees on its importance for addressing climate change.

Who was Steven Levitt's doctoral advisor at MIT?

Steven Levitt's doctoral advisor at the Massachusetts Institute of Technology (MIT) was James M. Poterba. Poterba is a distinguished economist known for his research in public finance and macroeconomics.

Which economists are cited as influences on Steven Levitt's academic work?

The text lists Gary Becker, Kevin M. Murphy, and Josh Angrist as economists who influenced Steven Levitt's work. These individuals are prominent figures in applied microeconomics and related fields.

What are the main academic disciplines Steven Levitt works within?

Steven Levitt's academic work is primarily situated within social economics and applied microeconomics. These fields utilize economic theories and methods to study social issues and individual decision-making.

To which major economic school of thought is Steven Levitt associated?

Steven Levitt is associated with the Chicago School of Economics. This school is renowned for its advocacy of free markets, rational choice theory, and rigorous empirical analysis.

What is the title of Steven Levitt's PhD thesis from MIT?

Steven Levitt's PhD thesis, completed at MIT, is titled "Four essays in positive political economy." This title suggests his doctoral research explored economic theories related to political decision-making and outcomes.

What topic did Levitt and Ian Ayres investigate in their 1998 paper on Lojack?

In their 1998 paper, "Measuring Positive Externalities from Unobservable Victim Precaution: An Empirical Analysis of Lojack," Levitt and Ian Ayres empirically analyzed the effectiveness of the Lojack car recovery system. They aimed to measure the broader societal benefits, or positive externalities, that arise even from precautions taken by individuals.

What did Levitt's 2000 paper "Juvenile Crime and Punishment" examine?

Levitt's 2000 paper, "The Effect of Prison Population Size on Crime Rates: Evidence from Prison Overcrowding Litigation," examined the relationship between the size of the prison population and actual crime rates. It used data from lawsuits concerning prison overcrowding to infer the impact of incarceration levels.

What is the full title of the 2005 book co-authored by Steven Levitt and Stephen Dubner?

The full title of the 2005 book co-authored by Steven Levitt and Stephen Dubner is *Freakonomics: A Rogue Economist Explores the Hidden Side of Everything*. This book became a major bestseller and introduced their unique approach to a wide audience.

What are some of the topics covered in the 2009 book *SuperFreakonomics* by Levitt and Dubner?

The 2009 book *SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance* delves into a variety of unconventional subjects. These include environmental issues like global cooling, social phenomena, and economic analyses of seemingly unrelated topics, as suggested by its provocative title.

What is the main theme of the 2014 book *Think Like a Freak* by Levitt and Dubner?

*Think Like a Freak*, published in 2014, offers guidance on how to think more creatively and unconventionally, encouraging readers to challenge assumptions and embrace unconventional solutions. It builds upon the core ideas presented in their previous *Freakonomics* books.

What does the 2015 book *When to Rob a Bank* by Levitt and Dubner compile?

Published in 2015, *When to Rob a Bank: ...And 131 More Warped Suggestions and Well-Intended Rants* is a collection of insights and unconventional advice from Levitt and Dubner. It draws from their blog and explores a wide range of curious economic and social topics.

What is the significance of the "Chicago Principles" in the context of the University of Chicago?

The "Chicago Principles" refer to the University of Chicago's statement on freedom of expression, emphasizing the importance of open discourse and the robust exchange of ideas. They assert that the university should be a place where controversial ideas can be debated freely, even if they are offensive to some members of the community.

What is the "Latke–Hamantash Debate" tradition at the University of Chicago?

The Latke–Hamantash Debate is an annual event at the University of Chicago where participants engage in humorous, mock-academic arguments about the relative merits of latkes and hamantaschen. This tradition showcases intellectual creativity and community spirit.

What is the University of Chicago Scavenger Hunt?

The University of Chicago Scavenger Hunt is a well-known campus tradition where teams of students compete to complete a lengthy list of often complex and unusual tasks within a limited time. It is celebrated for its creativity and the collaborative challenges it presents.

What does the 'Nuclear Energy' sculpture at the University of Chicago commemorate?

The 'Nuclear Energy' sculpture, located at the University of Chicago, commemorates the site of Chicago Pile-1, the world's first artificial nuclear reactor. This groundbreaking experiment, led by Enrico Fermi, occurred in 1942 and marked a significant milestone in nuclear physics.

What is the purpose of the 'Authority control' section typically found at the end of Wikipedia articles?

The 'Authority control' section provides standardized identifiers that link to external library and archival catalogs. These identifiers help researchers find consistent information about the subject across different databases and ensure the subject's unique identity is maintained.

What academic field does Steven Levitt's work on crime primarily fall under?

Steven Levitt's work on crime primarily falls under the field of economics, specifically applied microeconomics. He uses economic principles and data analysis to study the causes and consequences of criminal behavior.

What is the name of the institute Steven Levitt co-founded at the University of Chicago that incubates the 'Data Science for Everyone' coalition?

The institute is called the Center for Radical Innovation for Social Change. Steven Levitt serves as its Faculty Director and co-founder, and it plays a role in incubating initiatives like the 'Data Science for Everyone' coalition.

What did Levitt and Brian A. Jacob investigate in their 2003 paper titled 'Rotten Apples'?

In their 2003 paper 'Rotten Apples,' Levitt and Brian A. Jacob investigated the prevalence and predictors of teacher cheating within the education system. This research aimed to understand the factors contributing to academic dishonesty among educators.

What is the subject of the 2004 paper 'The Causes and Consequences of Distinctively Black Names' by Levitt and Roland G. Fryer Jr.?

The 2004 paper by Levitt and Roland G. Fryer Jr. examined the social and economic implications associated with the use of distinctively Black names in the United States. It explored how name choices might correlate with various life outcomes.

What did Levitt's 2004 paper 'Understanding Why Crime Fell in the 1990s' propose?

In his 2004 paper, Levitt analyzed potential factors contributing to the significant decline in crime rates during the 1990s. He identified four key factors that he believed explained the decrease and discussed six other factors that he concluded were not major contributors.

What is the significance of the John Bates Clark Medal?

The John Bates Clark Medal is awarded biennially by the American Economic Association to an American economist under the age of 40 who is deemed to have made the most significant contribution to economic thought and knowledge. It is often seen as a precursor to winning the Nobel Prize in Economics.

What is the Chicago School of Economics known for?

The Chicago School of Economics is known for its strong advocacy of free markets, rational choice theory, and empirical analysis. It has significantly influenced macroeconomic and microeconomic thought, particularly in areas like monetary policy, regulation, and law and economics.

What is the title of the 2009 book by Levitt and Dubner that explores topics like global cooling and suicide bombers?

The title of the 2009 book by Levitt and Dubner is *SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance*. The book uses economic reasoning to examine a wide range of controversial and unusual subjects.

What academic institution awarded Steven Levitt his PhD in economics?

Steven Levitt received his PhD in economics from the Massachusetts Institute of Technology (MIT).

What is the main argument presented in Levitt's 1997 paper 'Using Electoral Cycles in Police Hiring to Estimate the Effects of Police on Crime'?

In his 1997 paper, Levitt used the pattern of police hiring that often follows electoral cycles to estimate the impact of police presence on crime rates. This method aimed to isolate the effect of police numbers from other confounding factors.

What did Levitt and Sudhir A. Venkatesh analyze in their 2000 paper on drug-selling gangs?

Levitt and Venkatesh analyzed the financial records of a drug-selling gang to understand its internal economics. Their study, "An Economic Analysis of a Drug-Selling Gang's Finances," provided insights into the income distribution and operational strategies within such organizations.

What is the relationship between Steven Levitt and Stephen J. Dubner?

Steven Levitt and Stephen J. Dubner are collaborators and co-authors. They have co-written several best-selling books, including the *Freakonomics* series, and also maintained a blog together.

What does the 'Business and economics portal' link suggest about Steven Levitt's work?

The inclusion of a link to the 'Business and economics portal' indicates that Steven Levitt's work is fundamentally rooted in the principles and methodologies of economics, even when applied to seemingly unrelated topics like crime or social behavior.

Steven Levitt Wiki: The Levitt Lens: Unconventional Economics

Dive in with Flashcard Learning!

When you are ready...
🎮 Play the Wiki2Web Clarity Challenge Game🎮

Biographical Sketch

Personal Details

Steven David Levitt, born May 29, 1967, is a prominent American economist renowned for his unconventional approach to economic analysis. He is celebrated for his ability to apply economic principles to a wide array of social phenomena, often uncovering surprising correlations and causal links.

Academic Foundation

Levitt earned his Bachelor of Arts in Economics summa cum laude from Harvard University in 1989. He further honed his analytical skills at the Massachusetts Institute of Technology (MIT), where he obtained his PhD in Economics in 1994. His doctoral thesis focused on rational bubbles in horse breeding, showcasing an early interest in non-traditional economic subjects.

Recognition

His significant contributions to the field of economics, particularly his work on crime, were recognized in 2003 when he was awarded the prestigious John Bates Clark Medal. This award is given biennially by the American Economic Association to the most promising American economist under the age of 40, signifying his early impact and potential.

Academic and Professional Journey

University Affiliations

Currently, Levitt holds the position of William B. Ogden Distinguished Service Professor of Economics at the University of Chicago. He also directs the Center for Radical Innovation for Social Change at the same institution, fostering new approaches to data science and social issues.

Editorial and Consulting Roles

His academic influence extends to his tenure as co-editor of the Journal of Political Economy until December 2007. In 2009, he co-founded TGG Group, a consulting firm focused on business and philanthropy, leveraging his analytical expertise for practical applications.

Public Acclaim

Levitt's ability to communicate complex economic ideas to a broad audience gained significant traction. He was recognized by Time magazine in 2006 as one of the "100 People Who Shape Our World." Furthermore, a 2011 survey ranked him among the top five favorite living economists under 60, highlighting his standing among peers.

Areas of Scholarly Inquiry

Crime and Economics

Levitt's research has extensively explored the economic underpinnings of crime. His work includes analyzing the financial structures of drug-selling gangs and investigating the impact of law enforcement strategies on crime rates. He has published over 60 academic papers across various economic domains.

Behavioral and Social Phenomena

Beyond crime, Levitt has applied economic reasoning to diverse topics such as the influence of names on life outcomes, the economics of sports (like sumo wrestling and penalty kicks), and the impact of incentives on behavior. His approach often challenges conventional wisdom by focusing on empirical data and rigorous statistical analysis.

Key Methodologies

A hallmark of Levitt's work is his innovative use of data and quasi-experimental methods to identify causal relationships. He often seeks out unique datasets and natural experiments to test economic theories in real-world settings, moving beyond traditional theoretical models.

The Abortion-Crime Debate

Groundbreaking Hypothesis

Levitt, in collaboration with John J. Donohue III, published a highly influential and controversial paper in 2001 titled "The Impact of Legalized Abortion on Crime." The study posited that the legalization of abortion in 1973 could account for a substantial portion of the subsequent decline in crime rates observed approximately 18 years later.

The core argument suggests that unwanted pregnancies, which were more likely to occur among disadvantaged populations, would have led to higher crime rates if carried to term. Legalized abortion, by reducing the number of such births, indirectly lowered crime. The authors estimated that legalized abortion could explain up to half of the crime reduction in the 1990s.

Criticisms and Rebuttals: The paper faced significant criticism, with some economists like Theodore Joyce and later Christopher Foote and Christopher Goetz arguing that the results were sensitive to statistical methods and potentially flawed. Levitt and Donohue responded to these critiques, acknowledging statistical errors in their initial paper but maintaining that the core finding of a link between legalized abortion and reduced crime remained statistically significant, albeit potentially weaker.

Later Reaffirmation: In a 2019 paper, Levitt and Donohue reviewed their original predictions and concluded that the effects held up, estimating that crime fell by roughly 20% between 1997 and 2014 due to legalized abortion, accounting for a substantial part of the overall crime decline.

Perspectives on Policy

Financial Policy

Levitt has expressed strong opinions on financial policies, notably stating his dislike for the "too big to fail" concept, suggesting it creates moral hazard and systemic risks within the financial sector.

Environmental Economics

He is a proponent of a carbon tax as an economically efficient mechanism to address climate change. Levitt views it as a straightforward and obvious policy solution supported by the consensus of most economists.

Influential Publications

Freakonomics Series

Levitt co-authored the international bestseller Freakonomics (2005) with Stephen J. Dubner. This book, along with its sequels SuperFreakonomics (2009), Think Like a Freak (2014), and When to Rob a Bank (2015), popularized his distinctive approach to economics, examining the hidden incentives and data behind everyday life.

Freakonomics: A Rogue Economist Explores the Hidden Side of Everything (with Stephen Dubner, 2005)
SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance (with Stephen Dubner, 2009)
Think Like a Freak: The Authors of Freakonomics Offer to Retrain Your Brain (with Stephen Dubner, 2014)
When to Rob a Bank: ...And 131 More Warped Suggestions and Well-Intended Rants (with Stephen Dubner, 2015)

Distinctions and Honors

John Bates Clark Medal

Awarded in 2003, this medal is a significant recognition within the economics profession, signifying Levitt's status as one of the leading young economists in the United States at the time of its conferral.

Time 100

His inclusion in Time magazine's list of "100 People Who Shape Our World" in 2006 underscores his broader cultural impact and recognition beyond academic circles.

Peer Recognition

Ranked as the fourth favorite living economist under 60 by economics professors in a 2011 survey, reflecting high regard from his academic peers.

Scholarly Contributions

Academic Publications

Levitt has authored or co-authored numerous influential academic papers. His research spans diverse areas, employing rigorous empirical methods.

"Using Repeat Challengers to Estimate the Effect of Campaign Spending on Election Outcomes in the U.S. House." (1994)
"The Effect of Prison Population Size on Crime Rates: Evidence from Prison Overcrowding Litigation." (1996)
"Measuring Positive Externalities from Unobservable Victim Precaution: An Empirical Analysis of Lojack." (with Ian Ayres, 1998)
"An Economic Analysis of a Drug-Selling Gang's Finances." (with Sudhir A. Venkatesh, 2000)
"The Impact of Legalized Abortion on Crime." (with John J. Donohue III, 2001)
"The Causes and Consequences of Distinctively Black Names." (with Roland G. Fryer Jr., 2004)
"Understanding Why Crime Fell in the 1990s: Four Factors that Explain the Decline and Six that Do Not." (2004)
"Testing Theories Of Discrimination: Evidence From Weakest Link." (2004)
"Was there really a Hawthorne Effect at the Hawthorne Plant? An Analysis of the Original Illumination Experiments." (with John List, 2011)
"Checkmate: Exploring Backward Induction among Chess Players." (with John List, Sally Sadoff, 2011)
"Identifying Terrorists using Banking Data." (2012)
"The Impact of Legalized Abortion on Crime over the Last Two Decades." (with John J. Donohue, 2019)

Teacher's Corner

Edit and Print this course in the Wiki2Web Teacher Studio

Edit and Print Materials from this study in the wiki2web studio

Click here to open the "Steven Levitt" Wiki2Web Studio curriculum kit

Use the free Wiki2web Studio to generate printable flashcards, worksheets, exams, and export your materials as a web page or an interactive game.

True or False?

Test Your Knowledge!

Gamer's Corner

Are you ready for the Wiki2Web Clarity Challenge?

Learn about steven_levitt while playing the wiki2web Clarity Challenge game.

Unlock the mystery image and prove your knowledge by earning trophies. This simple game is addictively fun and is a great way to learn!

Play now

Explore More Topics

Discover other topics to study!

nfl europe

journal of the american oriental society

list of vegetables

john g. trump

jacobean architecture

eurocup basketball

operation serval

naharlagun railway station

counterterrorism

la retirada

References

Four essays in positive political economy

A full list of references for this article are available at the Steven Levitt Wikipedia page

Feedback & Support

To report an issue with this page, or to find out ways to support the mission, please click here.

Disclaimer

Important Notice

This page was generated by an Artificial Intelligence and is intended for informational and educational purposes only. The content is based on publicly available data and may not be entirely accurate, complete, or up-to-date.

This is not professional economic advice. The information provided on this website is not a substitute for professional consultation, diagnosis, or treatment. Always seek the advice of a qualified economist or financial professional with any questions you may have regarding economic matters. Never disregard professional advice or delay in seeking it because of something you have read on this website.

The creators of this page are not responsible for any errors or omissions, or for any actions taken based on the information provided herein.

The Levitt Lens

💡 Dive in with Flashcard Learning! 💡

Biographical Sketch 👨‍🏫

👤 Personal Details

🎓 Academic Foundation

🏆 Recognition

Academic and Professional Journey 🏛️

💼 University Affiliations

📰 Editorial and Consulting Roles

⭐ Public Acclaim

Areas of Scholarly Inquiry 📈

⚖️ Crime and Economics

🗣️ Behavioral and Social Phenomena

💡 Key Methodologies

The Abortion-Crime Debate ⚖️

📜 Groundbreaking Hypothesis

Perspectives on Policy 💡

🏦 Financial Policy

🌳 Environmental Economics

Influential Publications 📚

📖 Freakonomics Series

Distinctions and Honors 🏅

🏆 John Bates Clark Medal

⭐ Time 100

📊 Peer Recognition

Scholarly Contributions 📖

📄 Academic Publications

Teacher's Corner 🧑‍🏫

Edit and Print this course in the Wiki2Web Teacher Studio

True or False? 🤔

❓ Test Your Knowledge! ❓

Gamer's Corner 🎮

Are you ready for the Wiki2Web Clarity Challenge?

Explore More Topics

📜 Discover other topics to study!

References

📜 References

Feedback & Support 👍

To report an issue with this page, or to find out ways to support the mission, please click here.

Disclaimer ⚠️

📜 Important Notice

Dive in with Flashcard Learning!

Biographical Sketch

Personal Details

Academic Foundation

Recognition

Academic and Professional Journey

University Affiliations

Editorial and Consulting Roles

Public Acclaim

Areas of Scholarly Inquiry

Crime and Economics

Behavioral and Social Phenomena

Key Methodologies

The Abortion-Crime Debate

Groundbreaking Hypothesis

Perspectives on Policy

Financial Policy

Environmental Economics

Influential Publications

Freakonomics Series

Distinctions and Honors

John Bates Clark Medal

Time 100

Peer Recognition

Scholarly Contributions

Academic Publications

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice