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The Job Market for New Economists: A Market Design Perspective

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  • Coles, Peter Andrew
  • Cawley, John
  • Levine, Phillip B.
  • Roth, Alvin E.
  • Siegfried, John J.
  • Niederle, Muriel

Abstract

This paper, written by the members of the American Economic Association (AEA) Ad Hoc Committee on the Job Market, provides an overview of the market for new Ph.D. economists. It describes the role of the AEA in the market and focuses in particular on two mechanisms adopted in recent years at the suggestion of our Committee. First, job market applicants now have a signaling service to send an expression of special interest to up to two employers prior to interviews at the January Allied Social Science Associations (ASSA) meetings. Second, the AEA now invites candidates who are still on the market, and employers whose positions are still vacant, to participate in a web-based "scramble" to reduce search costs and thicken the late part of the job market. We present statistics on the activity in these market mechanisms and present survey evidence that both mechanisms have facilitated matches. The paper concludes by discussing the emergence of platforms for transmitting job market information and other design issues that may arise in the market for new economists.

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Bibliographic Info

Paper provided by Harvard University Department of Economics in its series Scholarly Articles with number 5343168.

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Date of creation: 2010
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Publication status: Published in Journal of Economic Perspectives
Handle: RePEc:hrv:faseco:5343168

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References

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  1. Alvin E. Roth, 2007. "Deferred Acceptance Algorithms: History, Theory, Practice, and Open Questions," NBER Working Papers 13225, National Bureau of Economic Research, Inc.
  2. Muriel Niederle & Leeat Yariv, 2009. "Decentralized Matching with Aligned Preferences," NBER Working Papers 14840, National Bureau of Economic Research, Inc.
  3. Alvin E. Roth, 2006. "Repugnance as a Constraint on Markets," NBER Working Papers 12702, National Bureau of Economic Research, Inc.
  4. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  5. Muriel Niederle & Alvin E. Roth, 2009. "Market Culture: How Rules Governing Exploding Offers Affect Market Performance," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 199-219, August.
  6. Roth, Alvin E & Xing, Xiaolin, 1997. "Turnaround Time and Bottlenecks in Market Clearing: Decentralized Matching in the Market for Clinical Psychologists," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 284-329, April.
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Cited by:
  1. Alexey Kushnir, 2010. "Harmful Signaling in Matching Markets," Working Papers 2010.121, Fondazione Eni Enrico Mattei.
  2. Krause, Annabelle & Rinne, Ulf & Zimmermann, Klaus F., 2012. "Anonymous job applications of fresh Ph.D. economists," Economics Letters, Elsevier, vol. 117(2), pages 441-444.
  3. Alvin E. Roth, 2010. "Marketplace Institutions Related to the Timing of Transactions," NBER Working Papers 16556, National Bureau of Economic Research, Inc.
  4. Peter Coles & Alexey Kushnir & Muriel Niederle, 2013. "Preference Signaling in Matching Markets," American Economic Journal: Microeconomics, American Economic Association, vol. 5(2), pages 99-134, May.
  5. Paulina Restrepo-Echavarria & Antonella Tutino & Anton Cheremukhin, 2013. "A Theory of Targeted Search," 2013 Meeting Papers 664, Society for Economic Dynamics.
  6. Ajay Agrawal & John Horton & Nico Lacetera & Elizabeth Lyons, 2013. "Digitization and the Contract Labor Market: A Research Agenda," NBER Chapters, in: Economics of Digitization National Bureau of Economic Research, Inc.
  7. Peter Coles & Ran Shorrer, 2013. "Optimal Truncation in Matching Markets," Working Papers 2013.49, Fondazione Eni Enrico Mattei.
  8. Janine Balter & Michela Rancan & Olena Senyuta, 2014. "Truncation in the Matching Markets and Market Ineffciency," RSCAS Working Papers 2014/04, European University Institute.

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