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Why Stars Matter

  • Ajay K. Agrawal
  • John McHale
  • Alex Oettl

The growing peer effects literature pays particular attention to the role of stars. We decompose the causal effect of hiring a star in terms of the productivity impact on: 1) co-located incumbents and 2) new recruits. Using longitudinal university department-level data we report that hiring a star does not increase overall incumbent productivity, although this aggregate effect hides offsetting effects on related (positive) versus unrelated (negative) colleagues. However, the primary impact comes from an increase in the average quality of subsequent recruits. This is most pronounced at mid-ranked institutions, suggesting implications for the socially optimal spatial organization of talent.

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File URL: http://www.nber.org/papers/w20012.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 20012.

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Date of creation: Mar 2014
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Handle: RePEc:nbr:nberwo:20012
Note: LS PR
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  1. Kim, E. Han & Morse, Adair & Zingales, Luigi, 2009. "Are elite universities losing their competitive edge?," Journal of Financial Economics, Elsevier, vol. 93(3), pages 353-381, September.
  2. Ajay K. Agrawal & Avi Goldfarb, 2006. "Restructuring Research: Communication Costs and the Democratization of University Innovation," NBER Working Papers 12812, National Bureau of Economic Research, Inc.
  3. Levin, Sharon G & Stephan, Paula E, 1991. "Research Productivity over the Life Cycle: Evidence for Academic Scientists," American Economic Review, American Economic Association, vol. 81(1), pages 114-32, March.
  4. Fabian Waldinger, 2009. "Peer effects in science: evidence from the dismissal of scientists in Nazi Germany," LSE Research Online Documents on Economics 28518, London School of Economics and Political Science, LSE Library.
  5. Alexander Oettl, 2012. "Reconceptualizing Stars: Scientist Helpfulness and Peer Performance," Management Science, INFORMS, vol. 58(6), pages 1122-1140, June.
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