The Theory of Price

Stigler's book was an advanced economics textbook originally intended for graduate students.

Over time, it evolved and became The Theory of Price, expanding its scope and becoming a standard text at the undergraduate level.

Stigler's work transitioned from the influence of Alfred Marshall and the inter-war School of economics to the post-WWII Chicago School, showing a shift towards greater analytical rigor and the use of mathematics.

[1][2] According to Ronald Coase, while it's a challenging yet valuable resource for aspiring economists, the textbook isn't where Stigler’s most innovative economic contributions are found, which explains why it wasn't a focus when he received the Nobel Prize.

Although engaging and witty, the book covers conventional topics expected in price theory, not groundbreaking work.