Economics at MIT vs. Yale

sakky
Sat, 18 Apr 2009 04:12:01 +0000

Although these models would be inspired by real-world phenomena, a lay audience probably couldn’t identify most articles in (say) the Journal of Economic Theory as economics at all, much less distinguish “good” work from “bad” work.



Heck, a lay audience probably wouldn’t even be able to understand anything in the articles of the top econ journals beyond the first page, and even that’s debatable.

The economics literature has become so abstruse that even most economists would probably admit that they have great difficulty in completely understanding most of the new papers that are not within their particular subspecialty. Let’s face it, if you’re not one of the top handful of IO specialists in the world, you’re not really going to understand much of the cutting-edge IO research that is published today.