Faculty & Research

Dennis W. Carlton

David McDaniel Keller Professor of Economics

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5807 South Woodlawn Avenue
Chicago, IL 60637

Dennis W. Carlton focuses his research on microeconomics, industrial organization, and antitrust. He has published more than 100 articles and two books, including one of the leading textbooks in industrial organization. He is also the coeditor of the Journal of Law and Economics and is on the editorial boards of Competition Policy International and the Journal of Competition Law and Economics. From 2006 to 2008, he served as the Deputy Assistant Attorney General for Economic Analysis at the U.S. Department of Justice.

He is the recipient of a number of awards, including a John Harvard Award in 1970, a National Science Foundation Fellowship from 1972 to 1975, and the 1977 P.W.S. Andrews Memorial Prize Essay for the best essay in the field of industrial organization by a scholar under the age of 30, and the 2008 Robert F Lanzillotti prize for the best essay in antitrust economics. He was designated the 2014 Distinguished Fellow of the Industrial Organization Society. In 2014, he was also designated by the publication, Global Competition Review, as Economist of the Year. His research has been funded by the National Science Foundation and the Lincoln Foundation.

He has served as an advisor on antitrust matters to the Department of Justice, the Federal Trade Commission, and to private clients. He has served as a commissioner on the Antitrust Modernization Commission, a congressional committee investigating the antitrust laws.

Carlton earned a master's degree in operations research and a PhD in economics from Massachusetts Institute of Technology in 1974 and 1975 and a bachelor's degree summa cum laude in 1972 from Harvard College, where he majored in applied mathematics and economics and was a member of Phi Beta Kappa. He joined the Chicago Booth faculty in 1984.


2015 - 2016 Course Schedule

Number Name Quarter
33923 Advanced Industrial Organization III 2016 (Spring)

2016 - 2017 Course Schedule

Number Name Quarter
33923 Advanced Industrial Organization III 2017 (Spring)

Other Interests

Family, basketball, and billiards.


Research Activities

Theoretical and empirical examination of price rigidity; size distribution of firms during business cycles; incentives for planning and their effect on firm size; various issues in futures markets and antitrust economics.

With J. Perloff, Modern Industrial Organization, 4th ed. (2004).

"Why Barriers to Entry are Barriers to Understanding," American Economic Review (2004).

With E. Landes and A. Frankel, "The Control of Externalities in Sports Leagues," Journal of Political Economy (2004).

With M. Waldman, "The Strategic Use of Trying to Preserve and Create Market Power in Evolving Industries," The Rand Journal (2002).

With J. Chevalier, "Free Riding and Sales Strategies for the Internet," The Journal of Industrial Economics (2001).