Working Paper | HBS Working Paper Series | 2010

The Job Market for New Economists: A Market Design Perspective

by Peter A. Coles, John Cawley, Phillip B. Levine, Muriel Niederle, Alvin E. Roth and John J. Siegfried

Abstract

This paper provides an overview of the market for new Ph.D. economists. It describes the role of the American Economic Association (AEA) in the market and focuses in particular on two mechanisms adopted in recent years at the suggestion of our committee. First, job market applicants now have a signaling service to send an expression of special interest to up to two employers prior to interviews at the January Allied Social Science Associations (ASSA) meetings. Second, the AEA now invites candidates who are still on the market, and employers whose positions are still vacant, to participate in a web-based "scramble" to reduce search costs and thicken the late part of the job market. We present statistics on the activity in these market mechanisms and present survey evidence that both mechanisms have facilitated matches. The paper concludes by discussing the emergence of platforms for transmitting job market information.

Keywords: Cost Management; Information; Surveys; Jobs and Positions; Job Interviews; Job Search; Emerging Markets; Market Platforms; Service Operations; Search Technology;

Citation:

Coles, Peter A., John Cawley, Phillip B. Levine, Muriel Niederle, Alvin E. Roth, and John J. Siegfried. "The Job Market for New Economists: A Market Design Perspective." Harvard Business School Working Paper, No. 10-096, May 2010.