Economics @ ITT

Economics of Street Prostitutes in Chicago

Posted in economics, employment, microeconomics by ittecon on April 8, 2010

Speaking of labour issues, Steven D. Levitt, University of Chicago professor and author of Freakonomics (blog), is writing an Empirical Analysis of Street-Level Prostitution (PDF). In this study, he estimates that the invisible hand—or backhand, as the case might be—of market supply and demand guides the hourly wage of a street prostitute to over $25 an hour. This study might be of interest to students of economics or criminal justice—or both.

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