Advertisement

Scientometrics

, Volume 106, Issue 3, pp 917–943 | Cite as

Human capital, collegiality, and stardom in economics: empirical analysis

  • João R. Faria
  • Franklin G. MixonJr.
  • Kamal P. Upadhyaya
Article

Abstract

This study investigates the importance of collegiality (i.e., good colleagues) and the quality of human capital investment in fostering the development and growth of stars in the field of economics, where stardom is measured by way of receipt of the John Bates Clark Medal, arguably the second-most prestigious award in economics. We provide a vignette as a foundation for both qualitative and quantitative analysis using Egghe’s g-Index. Our results indicate that three institutions, namely Chicago, Harvard and MIT, with secondary consideration to Princeton, generally rank highest in fostering the growth and development of stars in the field of economics.

Keywords

Stardom in economics Human capital formation Collegiality Scientometrics John Bates Clark Medal 

JEL Classification

A10 A14 

References

  1. Amir, R., & Knauff, M. (2008). Ranking economics departments worldwide on the basis of PhD placement. Review of Economics and Statistics, 90, 185–190.CrossRefGoogle Scholar
  2. Ballou, D. (2001). Pay for performance in public and private schools. Economics of Education Review, 20, 51–61.CrossRefGoogle Scholar
  3. Berg, N., & Faria, J. R. (2008). Negatively correlated author seniority and the number of acknowledged people: Name-recognition as a signal of scientific merit? Journal of Socio-Economics, 37, 1234–1247.CrossRefGoogle Scholar
  4. Blaug, M., & Vane, H. R. (2003). Who’s who in economics. Cheltenham: Edward Elgar.Google Scholar
  5. Borooah, V. K. (1994). Modelling institutional behaviour: A microeconomic analysis of university management. Public Choice, 81, 101–124.CrossRefGoogle Scholar
  6. Breit, W., & Hirsch, B. T. (2004). Lives of the Laureates: Eighteen nobel economists (4th ed.). Cambridge, MA: MIT Press.Google Scholar
  7. Chan, H. F., Frey, B. S., Gallus, J., & Torgler, B. (2014). Academic honors and performance. Labour Economics, 31, 188–204.CrossRefGoogle Scholar
  8. Chan, H. F., & Torgler, B. (2015). The implications of educational and methodological background for the career success of nobel Laureates: An investigation of major awards. Scientometrics, 102, 847–863.CrossRefGoogle Scholar
  9. Coupé, T. (2003). Revealed performances: Worldwide rankings of economists and economics departments, 1990–2000. Journal of the European Economic Association, 1, 1309–1345.CrossRefGoogle Scholar
  10. Davidson, R., & MacKinnon, J. G. (1981). Several tests for model specification in the presence of alternative hypotheses. Econometrica, 49, 781–793.CrossRefMathSciNetMATHGoogle Scholar
  11. Davidson, R., & MacKinnon, J. G. (1993). Estimation and inference in econometrics. Oxford: Oxford University Press.MATHGoogle Scholar
  12. Dusansky, R., & Vernon, C. J. (1998). Rankings of U.S. economics departments. Journal of Economic Perspectives, 12, 157–170.CrossRefGoogle Scholar
  13. Editors. (2007). From h to g: The evolution of citation indexes. Research Trends, 1, 4. http://www.researchtrends.com/issue1-september-2007/from-h-to-g/.
  14. Egghe, L. (2006). Theory and practice of the g-index. Scientometrics, 69, 131–152.CrossRefGoogle Scholar
  15. Faria, J. R. (1998). The economics of witchcraft and the big eye effect. Kyklos, 51, 537–546.CrossRefGoogle Scholar
  16. Faria, J. R. (2002). Scientific, business and political networks in academia. Research in Economics, 56, 187–198.CrossRefGoogle Scholar
  17. Faria, J. R., Mixon, F. G., Jr., & Salter, S. P. (2012). An economic model of workplace mobbing in academe. Economics of Education Review, 31, 720–726.CrossRefGoogle Scholar
  18. Frey, B. S., & Neckermann, S. (2008). Awards in economics: Towards a new field of inquiry. https://ideas.repec.org/p/zur/iewwpx/401.html.
  19. Friedman, M. (1935). Professor Pigou’s method for measuring elasticities of demand from budgetary data. Quarterly Journal of Economics, 50, 151–163.CrossRefGoogle Scholar
  20. Graves, P. E., Marchand, J. R., & Thompson, R. (1982). Economics departmental rankings: Research incentives, constraints, and efficiency. American Economic Review, 72, 1131–1141.Google Scholar
  21. Gujurati, D. N. (1988). Basic econometrics. New York, NY: McGraw-Hill.Google Scholar
  22. Harzing, A. W. (2007) Publish or perish. www.harzing.com/pop.htm.
  23. Hilmer, M. J., & Hilmer, C. E. (2009). Fishes, ponds, and productivity: Student–advisor matching and early career publishing success for economics PhDs. Economic Inquiry, 47, 290–303.CrossRefGoogle Scholar
  24. Hogan, T. D. (1981). Faculty research activity and the quality of graduate training. Journal of Human Resources, 16, 400–415.CrossRefGoogle Scholar
  25. Hollingsworth, J. R. (2012). Factors associated with scientific creativity. Euresis Journal, 2, 77–112.Google Scholar
  26. Hollingsworth, J. R., Hollingsworth, E. J., & Gear, D. M. (2011). Major discoveries, creativity, and the dynamics of science. Wien: Remaprint Wien.Google Scholar
  27. Johnston, J. (1962). Econometric methods. New York, NY: McGraw-Hill.Google Scholar
  28. Kalaitzidakis, P., Mamuneas, T. P., & Stengos, T. (2003). Rankings of academic journals and institutions in economics. Journal of the European Economic Association, 1, 1346–1366.CrossRefGoogle Scholar
  29. Kandel, E., & Lazear, E. P. (1992). Peer pressure and partnerships. Journal of Political Economy, 100, 801–817.CrossRefGoogle Scholar
  30. Kennedy, P. (1998). A guide to econometrics. New York, NY: Macmillan.Google Scholar
  31. Laband, D. N., & Piette, M. J. (1995). Team production in economics: Division of labor or mentoring? Labour Economics, 2, 33–40.CrossRefGoogle Scholar
  32. Laband, D. N., & Tollison, R. D. (2000). Intellectual collaboration. Journal of Political Economy, 108, 632–662.CrossRefGoogle Scholar
  33. Laband, D. N., & Tollison, R. D. (2003). Good colleagues. Journal of Economic Behavior & Organization, 52, 505–512.CrossRefGoogle Scholar
  34. Laband, D. N., Tollison, R. D., & Karahan, G. R. (2002). Quality control in economics. Kyklos, 55, 315–334.CrossRefGoogle Scholar
  35. MacKinnon, J. G. (1983). Model specification tests against non-nested alternatives. Econometric Reviews, 2, 85–158.CrossRefMathSciNetMATHGoogle Scholar
  36. Maddala, G. S. (1983). Limited dependent and qualitative variables in econometrics. Cambridge: Cambridge University Press.CrossRefMATHGoogle Scholar
  37. Maddala, G. S. (1992). Introduction to econometrics. New York, NY: Macmillan.Google Scholar
  38. McKenzie, R. B. (1979). The economic basis of departmental discord in academe. Social Science Quarterly, 59, 653–664.Google Scholar
  39. Mixon, F. G., Jr. (1997). Team production in economics: A comment and extension. Labour Economics, 4, 185–191.CrossRefGoogle Scholar
  40. Mixon, F. G., Jr., & Gibson, M. T. (2001). The retention of state level concealed handgun laws: Empirical evidence from interest group and legislative models. Public Choice, 107, 1–20.CrossRefGoogle Scholar
  41. Mixon, F. G., Jr., & Sawyer, W. C. (2005). Contribution, attribution and the assignment of intellectual property rights in economics. Journal of Economic Studies, 32, 382–386.CrossRefGoogle Scholar
  42. Mixon, F. G., Jr., & Upadhyaya, K. P. (2011). From London to the continent: Ranking European economics departments on the basis of prestigious medals and awards. Ekonomia, 14, 119–126.Google Scholar
  43. Mixon, F. G., Jr., & Upadhyaya, K. P. (2012). The economics Olympics: Ranking U.S. economics departments based on prizes, medals, and other awards. Southern Economic Journal, 79, 90–96.CrossRefGoogle Scholar
  44. Mixon, F. G., Jr., & Upadhyaya, K. P. (2014). Eyes on the prize: Human capital and demographic elements of economics’ Nobel Prize and John Bates Clark Medal. Briefing Notes in Economics, 24, 1–18.Google Scholar
  45. Oettl, A. (2012). Reconceptualizing stars: Scientist helpfulness and peer performance. Management Science, 58, 1122–1140.CrossRefGoogle Scholar
  46. Rampel, C. (2009). Prize deflation. The New York Times, January 4. http://economix.blogs.nytimes.com/2009/01/04/prize-deflation/?_r=0.
  47. Scott, L. C., & Mitias, P. M. (1996). Trends in rankings of economics departments in the U.S.: An update. Economic Inquiry, 34, 378–400.CrossRefGoogle Scholar
  48. Shah, N. (2014) Handicapping the john bates clark medal. The Wall Street Journal. http://blogs.wsj.com/economics/2014/04/16/handicapping-the-john-bates-clark-medal-3/.
  49. Stigler, G. J. (1988). Memoirs of an unregulated economist. New York, NY: Basic Books.Google Scholar
  50. Torgler, B., & Piatti, M. (2013). A century of American Economic Review: Insights on critical factors in journal publishing. New York, NY: Palgrave Macmillan.CrossRefGoogle Scholar
  51. Zuckerman, H. (1977). Scientific elite. New York, NY: Free Press.Google Scholar

Copyright information

© Akadémiai Kiadó, Budapest, Hungary 2016

Authors and Affiliations

  • João R. Faria
    • 1
  • Franklin G. MixonJr.
    • 2
  • Kamal P. Upadhyaya
    • 3
  1. 1.MPA ProgramUniversity of Texas – El PasoEl PasoUSA
  2. 2.Center for Economic EducationColumbus State UniversityColumbusUSA
  3. 3.Department of EconomicsUniversity of New HavenWest HavenUSA

Personalised recommendations