M69 INDIA ABROAD, JUNE 2013
For being one of
the world’s most
being a true
genius poised for
Raj Chetty is the winner of the 2012 MacArthur Fellowship, popularly known as the genius grant, and the John Bates Clark Medal,
otherwise known as the Baby Nobel.
COURTES Y: RAJ CHET T Y
Raj Chetty may not have been around when you last bought olive oil or the therapeutic soap or cake mix at a sup- ermarket.
But he was at a California supermarket a few
years ago, checking out if customers calculated
what a bottle of shampoo and other items would
cost with sales tax, and if knowing this before
they reached the counter would led them to
change their mind about buying the items.
It was one of many experiments that have
made Harvard Public Economy Professor Raj
Chetty, 33, one of the most discussed and honored economists in the country.
The traditional assumption in economics, he
has said, is that you are keeping such taxes in
He is often mistaken by grad students at Harvard
as one of their classmates till he takes the podium...
mind when you make purchasing decisions.
‘But we wanted to test the assumption and we
started studying the buying pattern in a large
grocery store, with the owner agreeing on put-
ting special price tags on items.’
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