--- title: "Meaning & Key Takeaway of: Even before I came to Chicago, I had…" description: "\"Even before I came to Chicago, I had gotten interested in the existence of dispersion of prices under conditions which economic theory said would yield..." image: "https://sms4smile.com/quotes/i/3c6/george-stigler-19624_chicago_even-before-i-came-to-chicago-i-had-gott_2874539.jpg" --- # Even before I came to Chicago, I had gotten interested in… ![“Even before I came to Chicago, I had gotten interested in the existence of dispersion of prices under conditions which economic theory said would yield a single price.” quote by George Stigler](https://sms4smile.com/quotes/i/3c6/george-stigler-19624_chicago_even-before-i-came-to-chicago-i-had-gott_2874539.jpg) [Download](https://sms4smile.com/quotes/i/3c6/george-stigler-19624_chicago_even-before-i-came-to-chicago-i-had-gott_2874539.jpg) [Open image](https://sms4smile.com/quotes/i/3c6/george-stigler-19624_chicago_even-before-i-came-to-chicago-i-had-gott_2874539.jpg) > “Even before I came to Chicago, I had gotten interested in the existence of dispersion of prices under conditions which economic theory said would yield a single price.” [George Stigler](https://sms4smile.com/quotes/author/george-stigler/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economic theory predicts a single market price, but real markets often show varied prices due to information asymmetry and transaction costs. **In simple terms:** Markets often have many prices, not just one. Key Takeaway Recognize price variation as a signal of market imperfections. Themes economics price theory market imperfections Mood analytical critical Type academic observational When to use this quote - retail pricing - online marketplaces - real‑estate markets - auction design Key Concepts information asymmetry transaction costs search theory Questions to Reflect On - How do transaction costs create price dispersion? - What role does consumer search play? 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