I would go to Stanford for several reasons. One is Stanford is strong in basically every subfield, while Chicago's strength is macro alone(and to some extent development economics also).Another is Chicago fails half of its PhD admittant in prelim, while Stanford basically doesn't fail anyone. If such a pressure is put on a student, prelim can unnecessarily be a big headache after getting admitted with that much effort.Third is , well, stanford is located in the cosmopolitan Palo Alto, while Chicago is located in a redneck backwater Chicago:-) Actually, both choices are great, as any economist would tell you. Depends on your preference.