Do Economics Departments Search Optimally in Faculty Recruiting?

Posted: 29 Feb 2008  

Yongmin Chen

University of Colorado at Boulder - Department of Economics

Terra McKinnish

University of Colorado at Boulder - Department of Economics

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Abstract

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 Classification: J44, J64, D83, L8

Suggested Citation

Chen, Yongmin and McKinnish, Terra, Do Economics Departments Search Optimally in Faculty Recruiting?. Economic Inquiry, Vol. 43, Issue 3, pp. 676-688, 2005. Available at SSRN: https://ssrn.com/abstract=906261

Yongmin Chen (Contact Author)

University of Colorado at Boulder - Department of Economics ( email )

Campus Box 256
Boulder, CO 80309-0256
United States
303-492-8736 (Phone)
303-492-8960 (Fax)

Terra McKinnish

University of Colorado at Boulder - Department of Economics ( email )

Campus Box 256
Boulder, CO 80309-0256
United States

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