Cato Institute in the context of Massachusetts Avenue (Washington, D.C.)

James McGill Buchanan Jr. (/bjuːˈkænən/ bew-KAN-ən; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962. He continued to develop the theory, eventually receiving the Nobel Memorial Prize in Economic Sciences in 1986. Buchanan's work initiated research on how politicians' and bureaucrats' self-interest, utility maximization, and other non-wealth-maximizing considerations affect their decision-making. He was a member of the Board of Advisors of The Independent Institute as well as of the Institute of Economic Affairs, a member of the Mont Pelerin Society (MPS) and MPS president from 1984 to 1986, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.

The Index of Freedom in the World is an index of civil liberties published in late 2012 by Canada's Fraser Institute, Germany's Liberales Institut, and the U.S. Cato Institute. The index is the predecessor of the Human Freedom Index, which has been published annually since 2015. The coauthors of both indexes are Ian Vásquez and Tanja Porčnik (née Štumberger).

The index is based on measures of freedom of speech, freedom of religion, individual economic choice, freedom of association, freedom of assembly, violence and crimes, freedom of movement, and women's rights. Other components of the Freedom Index include human trafficking, sexual violence, female genital mutilation, and homicide.

Charles de Ganahl Koch (/koʊk/ KOHK; born November 1, 1935) is an American businessman, engineer, and philanthropist. As of May 2025, he is ranked as the 22nd richest man in the world on the Bloomberg Billionaires Index, with an estimated net worth of US$71.4 billion. Koch has been co-owner, chairman, and chief executive officer of Koch Industries since 1967, while his late brother David Koch served as executive vice president. Charles and David each owned 42% of the conglomerate. The brothers inherited the business from their father, Fred C. Koch, then expanded the business. Koch Industries is the largest privately held company by revenue in the United States, according to Forbes.

Koch also supports a number of libertarian think tanks, including the Institute for Humane Studies, the Cato Institute, the Ayn Rand Institute, and the Mercatus Center at George Mason University. He also contributes to the Republican Party and candidates, libertarian groups, and various charitable and cultural institutions. He co-founded the Washington, D.C.–based Cato Institute. Along with his brother, Koch has been an important funder of think tanks that lobby to oppose environmental regulation. Koch has published four books detailing his business philosophy, Market Based Management (2006), The Science of Success (2007), Good Profit (2015), and Believe in People (2020).

Vernon Lomax Smith (born January 1, 1927) is an American economist who is currently a professor of economics and law at Chapman University. He was formerly the McLellan/Regent's Professor of Economics at the University of Arizona, a professor of economics and law at George Mason University, and a board member of the Mercatus Center. Along with Daniel Kahneman, Smith won the 2002 Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics and his work in the field of experimental economics, which helped establish "laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms."

Smith is the founder and president of the International Foundation for Research in Experimental Economics (IFREEE), a member of the Independent Institute’s board of advisors, and a senior fellow at the Cato Institute in Washington D.C. He was elected a Fellow of the Econometric Society in 1987, and was elected to the National Academy of Sciences in 1995. In 2004, Smith was awarded an honorary doctorate by the Universidad Francisco Marroquín, where the Vernon Smith Center for Experimental Economics Research is named for him. He was also a founding board member of the Center for Growth and Opportunity at Utah State University. As of 2023, Smith also sits on the advisory board of the Madden Center for Value Creation at Florida Atlantic University.