Industry or Academia, Basic or Applied? Career Choices and Earnings Trajectories of Scientists

• 成果类型: Article
• 署名作者: Agarwal, Rajshree; Ohyama, Atsushi
• 署名单位: University System of Maryland; University of Maryland College Park; Hokkaido University
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.1120.1582
• 发表日期: 2013
• 页码: 950-970
• 关键词: Human capital; matching; scientists and engineers; earnings profile

摘要

We extend life cycle models of human capital investments by incorporating matching theory to examine the sorting pattern of heterogeneous scientists into different career trajectories. We link differences in physical capital investments and complementarities between basic and applied scientists across industry and academic settings to individual differences in scientist ability and preferences to predict an equilibrium matching of scientists to careers and to their earnings evolution. Our empirical analysis, using the National Science Foundation's Scientists and Engineers Statistical Data System database, is consistent with theoretical predictions of (i) sorting by ability into basic versus applied science among academic scientists, but not among industry scientists; and (ii) sorting by higher taste for nonmonetary returns into academia over industry. The evolution of an earnings profile is consistent with these sorting patterns: the earnings trajectories of basic and applied scientists are distinct from each other in academia but are similar in industry.