The University of Chicago Law School has awarded its inaugural Donald M. Ephraim Prize in Law and Economics to Megan T. Stevenson, Associate Professor of Law and Associate Professor of Economics at the University of Virginia.
The Ephraim Prize recognizes an early-career scholar in the field of law and economics whose work has advanced the state of knowledge in the field and whose intellectual impact has the potential to reach the legal academy, legal profession, and beyond.
The selection committee recognized Stevenson for her insightful contributions to critical topics in the field of criminal justice, along with her invaluable support to colleagues in the field of law and economics. Stevenson has conducted empirical research in areas of criminal justice reform, including bail, algorithmic risk assessment, misdemeanors, and juvenile justice. She was the 2019 winner of the Oliver E. Williamson prize for best article, chosen from all articles published in the Journal of Law, Economics, & Organization during the previous three years. In addition to producing pathbreaking scholarship, she has actively promoted and contributed to the scholarship of others in the field of law and economics, including co-founding virtual law and economics workshops to bring together scholars in the field during the height of the pandemic.
“Megan’s empirical work has been celebrated and highly influential,” said William H.J. Hubbard, Professor of Law and chair of the selection committee. “She is a leading empirical scholar in the field of criminal justice whose work is making an impact not only in the academy, but also in policy.”
“I created this Prize to recognize and reward an eminent younger scholar whose promise and potential is likely to significantly impact the field of law and economics,” Donald M. Ephraim, ’55, said. “I am exceptionally pleased that our respected selection committee chose Professor Stevenson, a distinguished and extensively published academic, for the inaugural award.”
The Prize includes a $30,000 cash award, as well as the opportunity to present research at the Law School during the 2023-2024 academic year.
Stevenson said, “I’m very honored and touched to have received this recognition. You always hope the work you do might make a difference, and I'm so pleased that the selection committee thinks it does.”