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Human Capital, Networks and Segmentation in the Market for Academic Economists

Author

Listed:
  • João Ricardo Faria

    (Department of Economics, Florida Atlantic University, Boca Raton, FL 33431, USA)

  • Franklin G. Mixon

    (Center for Economic Education, Columbus State University, Columbus, GA 31907, USA)

  • William C. Sawyer

    (Department of Economics, Texas Christian University, Fort Worth, TX 76109, USA)

Abstract

Academic labor markets often exhibit steep hierarchies, with institutions at the top attempting to attract newly minted doctorates from similarly situated institutions in an effort to maintain or improve their reputations. Yet, despite recent research on labor market segmentation in academe, the literature has heretofore been under-theorized. This paper provides a straightforward formal model that generates a three-tiered hierarchy of academic institutions, wherein academic departments affiliated with top-tier universities endeavor to hire only from within the group, while those in the bottom tier are unable to employ faculty with degrees from top departments. The results from statistical tests applied to data from economics departments in the U.S. indicate that top-tier departments employ 3.5 to 3.8 (2.5 to 2.9) more assistant professors from top-tier institutions, ceteris paribus, than bottom (middle) tier departments.

Suggested Citation

  • João Ricardo Faria & Franklin G. Mixon & William C. Sawyer, 2023. "Human Capital, Networks and Segmentation in the Market for Academic Economists," Economies, MDPI, vol. 11(6), pages 1-15, June.
    • Handle: RePEc:gam:jecomi:v:11:y:2023:i:6:p:165-:d:1169208
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    References listed on IDEAS

    as
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