Elizabeth Ellery Bailey (born 1938) is an American economist. She is John C. Hower Professor of Business and Public Policy, at The Wharton School of the University of Pennsylvania and has been Director of Altria since 1989.
Bailey received her bachelor's degree from the Radcliffe College and her Ph.D. from Princeton University, where she was the first woman to receive a doctoral degree in economics.
Bailey joined The Wharton School in July 1991, having served from July 1990 to June 1991 as a professor of industrial administration at Carnegie Mellon University, and as a visiting scholar at the Yale School of Organization and Management. From 1983 to 1990, she was Dean of the Graduate School of Industrial Administration of Carnegie Mellon University. Between 1977 and 1983, she served as a commissioner of the Civil Aeronautics Board, where she oversaw the deregulation of the airline industry. She was elected a Fellow of the American Academy of Arts and Sciences in 1997. She serves as a Director of TIAA-CREF and CSX Corporation, and as a trustee of The Brookings Institution, Bancroft NeuroHealth, and the National Bureau of Economic Research, where she is currently chairperson.