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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
    1. Franklin G. Mixon, 2019. "Sugar daddy u: human capital investment and the university-based supply of ‘romantic arrangements’," Applied Economics, Taylor & Francis Journals, vol. 51(9), pages 956-971, February.
    2. Giulia Zacchia, 2021. "What Does It Take to Be Top Women Economists? An Analysis Using Rankings in RePEc," Review of Political Economy, Taylor & Francis Journals, vol. 33(2), pages 170-193, April.
    3. George A. Akerlof, 2020. "Sins of Omission and the Practice of Economics," Journal of Economic Literature, American Economic Association, vol. 58(2), pages 405-418, June.
    4. repec:spo:wpmain:info:hdl:2441/67ft27s7u58ocangahl1jigu6p is not listed on IDEAS
    5. Ho F. Chan & Franklin G. Mixon & Benno Torgler, 2018. "Relation of early career performance and recognition to the probability of winning the Nobel Prize in economics," Scientometrics, Springer;Akadémiai Kiadó, vol. 114(3), pages 1069-1086, March.
    6. Marion Fourcade & Etienne Ollion & Yann Algan, 2015. "La superioridad de los economistas," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 17(33), pages 13-43, July-Dece.
    7. Marion Fourcade & Etienne Ollion & Yann Algan, 2015. "The Superiority of Economists," Journal of Economic Perspectives, American Economic Association, vol. 29(1), pages 89-114, Winter.
    8. Rex J. Pjesky & Daniel Sutter, 2011. "Does the Lack of a Profit Motive Affect Hiring in Academe? Evidence from the Market for Lawyers," American Journal of Economics and Sociology, Wiley Blackwell, vol. 70(4), pages 1053-1084, October.
    9. repec:nos:voprec:y:2015:id:94 is not listed on IDEAS
    10. Alexandra Baumann & Klaus Wohlrabe, 2020. "Where have all the working papers gone? Evidence from four major economics working paper series," Scientometrics, Springer;Akadémiai Kiadó, vol. 124(3), pages 2433-2441, September.
    11. Kocher, Martin G & Sutter, Matthias, 2001. "The Institutional Concentration of Authors in Top Journals of Economics during the Last Two Decades," Economic Journal, Royal Economic Society, vol. 111(472), pages 405-421, June.
    12. Leah Boustan & Andrew Langan, 2019. "Variation in Women's Success across PhD Programs in Economics," Journal of Economic Perspectives, American Economic Association, vol. 33(1), pages 23-42, Winter.
    13. Franklin G. Mixon & Kamal P. Updahyaya, 2011. "From London to the Continent: Ranking European Economics Departments on the Basis of Prestigious Medals and Awards," Ekonomia, Cyprus Economic Society and University of Cyprus, vol. 14(2), pages 119-126, Winter.
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    15. Howard Bodenhorn, 1997. "Teachers, and Scholars Too: Economic Scholarship at Elite Liberal Arts Colleges," The Journal of Economic Education, Taylor & Francis Journals, vol. 28(4), pages 323-336, December.
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    17. M. Fourcade & E. Ollion & Y. Algan., 2015. "The Superiority of Economists," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
    18. Laband, David N & Piette, Michael J, 1994. "Favoritism versus Search for Good Papers: Empirical Evidence Regarding the Behavior of Journal Editors," Journal of Political Economy, University of Chicago Press, vol. 102(1), pages 194-203, February.
    19. Shelly Lundberg & Jenna Stearns, 2019. "Women in Economics: Stalled Progress," Journal of Economic Perspectives, American Economic Association, vol. 33(1), pages 3-22, Winter.
    20. Franklin G. Mixon Jr & Kamal P. Upadhyaya, 2012. "The Economics Olympics: Ranking U.S. Economics Departments Based on Prizes, Medals, and Other Awards," Southern Economic Journal, Southern Economic Association, vol. 79(1), pages 90-96, July.
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    Cited by:

    1. Lee, Deok-Young & Woo, Hyungsoo & Yang, Jae-Suk, 2026. "Networks of knowledge: hiring and collaboration networks in economics and physics departments," Journal of Informetrics, Elsevier, vol. 20(1).

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