The Ph.D. Circle in Academic Economics
Adam Smith doubted an invisible hand in academia, saying that academia was prone to clubbish foolishness. From economics-department webpages, I collected data on Ph.D. origination of economics faculty. Using a ranking of 200 economics departments world-wide, I find that at the top departments 80-90 percent of faculty got their PhD at a top-35 department. The set of top-35 departments draws 76 percent of faculty from itself. The top-35 dominate the entire profession. Economics is more a monocentric cultural pyramid than a polycentric market.
Volume (Year): 2 (2005)
Issue (Month): 1 (April)
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References listed on IDEAS
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- Paul J. Pieper & Rachel A. Willis, 1999. "The Doctoral Origins of Economics Faculty and the Education of New Economics Doctorates," The Journal of Economic Education, Taylor & Francis Journals, vol. 30(1), pages 80-88, January.
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- Wendy A. Stock & Richard M. Alston, 2000. "Effect of Graduate-Program Rank on Success in the Job Market," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(4), pages 389-401, December.
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