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Paul Webster MacAvoy Edit Profile

dean , Economist

Paul Webster MACAVOY, economist in the field of Public Policy; Role of Government; Energy; Public Utilities and Costs of Government Regulation of Other Industries in the Private Sector. Fellow, American Academy of Arts and Sciences,



MacAvoy, Paul Webster was born on April 21, 1934 in Haverhill, Massachusetts, United States. Son of Paul Everett and Louise Madeline (Webster) MacA.


Bachelor of Arts (Economics, History, Mathematics) Bates College, 1955. Master of Arts, Doctor of Philosophy Yale University, 1956, 1965. Hon Doctor of Laws Bates College, 1976.


Assistant Professor Business Economics, Graduate School Business, University Chicago,

3. Assistant Professor of Economics, Association Professor of Economics, Professor Management, Henry R. Luce Professor Public Policy, Sloan School Management, 1963-1965, 1966-1969, 1969-1974, 1974-1975. Member, United States President's Council Economics Advisers, 1975-1976.

Professor Organization and Management, Frederick William Beinecke Professor of Economics, Yale University, 1977-1981, 1981-1983. Dean, Professor Management, Graduate School Management, Professor of Economics, University Rochester, Rochester, New York, United States of America, since 1983. Editor, Bell Journal of Economics, 1970-1975.

Advisory Editor, Resources & Energy, 1977, 1984, Energy J., 1980-1984.


  • Fellow, American Academy of Arts and Sciences,1982.



Throughout my career, my goal has been to produce stylised facts in the systematic behaviour of private-sector organisations subject to regulation and other governmental policies. While searching fairly widely for testable propositions designed to produce such findings, my work nevertheless has tended to utilise classical price theory and comparative statics. The findings from my dozen books encompass price and quantity changes, and also profitability, productivity, and quality of service from American corporations.

Most relate to the natural resource industries and thus necessarily deal with perceived public trade-offs of shortages, deteriorating service quality and declining productivity for price controls that provide ephemeral gains in the form of income redistribution. The value of this work should eventually be realised in the development of an empirical theory of the regulatory agency imposing controls on private organisations.


Married Katherine Ann Manning, June 13, 1955. Children: Libby, Matthew.

Paul Everett MacA.

Louise Madeline (Webster) MacA.

Katherine Ann Manning

Libby MacAvoy

Matthew MacAvoy