What Can International Cricket Teach Us About the Role of Luck in Labor Markets?
How important is luck in determining labor market outcomes? We address this question using a new dataset of all international test cricketers who debuted between 1950 and 1985. We present evidence that a playerâ€™s debut performance is strongly affected by an exogenous source of variation: whether the debut series is played at home or abroad. This allows us to identify the role of luck - factors unrelated to ability - in shaping future career outcomes. We find that players lucky enough to debut at home perform significantly better on debut. Moreover, debut performance has a large and persistent impact on long run career outcomes. We also make headway in empirically distinguishing between competing explanations for why exogenous initial conditions exercise a persistent impact on career performance
|Date of creation:||01 Oct 2010|
|Date of revision:|
|Contact details of provider:|| Postal: International Monetary Fund, Washington, DC USA|
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC
|Order Information:||Web: http://www.imf.org/external/pubs/pubs/ord_info.htm|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Price, Joseph & Wolfers, Justin, 2007.
"Racial Discrimination Among NBA Referees,"
CEPR Discussion Papers
6369, C.E.P.R. Discussion Papers.
- Price, Joseph & Wolfers, Justin, 2007. "Racial Discrimination Among NBA Referees," IZA Discussion Papers 2863, Institute for the Study of Labor (IZA).
- Joseph Price & Justin Wolfers, 2007. "Racial Discrimination Among NBA Referees," NBER Working Papers 13206, National Bureau of Economic Research, Inc.
- Edward P. Lazear, 2003. "Firm-Specific Human Capital: A Skill-Weights Approach," NBER Working Papers 9679, National Bureau of Economic Research, Inc.
- Kahn, Lisa B., 2010. "The long-term labor market consequences of graduating from college in a bad economy," Labour Economics, Elsevier, vol. 17(2), pages 303-316, April.
When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:10/225. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow)or (Hassan Zaidi)
If references are entirely missing, you can add them using this form.