Do Economics Departments Search Optimally in Faculty Recruiting?
We find that it is optimal for higher-quality departments to search broadly across many or even all fields in faculty recruiting, whereas it is optimal for lower-quality departments to conduct narrower searches. We develop a simple search model in which optimal search scope is shown to increase in department quality. Using data from Job Openings for Economists, we find that higher-ranked departments do conduct broader searches. We find that a 10-place increase in department ranking is associated with 3.5--4.8 more Journal of Economic Literature subfields listed in a position announcement. (JEL J44, J64, D83, L8) Copyright 2005, Oxford University Press.
Volume (Year): 43 (2005)
Issue (Month): 3 (July)
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