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Both are excellent departments for micro theory. If you have the ability, I would strongly recommend visiting both before making your decision.
I would personally be drawn a bit more to Penn, but it's idiosyncratic. Definitely look up current faculty's research interests. Not just titles either... At least browse some abstracts. Also, be careful about the trap of only focusing on senior/famous professors. See which school has a better, larger group of people doing stuff you find cool.