VGSF - WU Vienna - LC

Pietro Veronesi, University of Chicago, NBER, and CEPR

Campus WU D4.4.008 11:00 - 12:00

Organizer WU Vienna

The Fin­ance Brown Bag Sem­inar is held by the In­sti­tute for Fin­ance, Bank­ing and In­sur­ance (WU Vi­enna) and the Vi­enna Gradu­ate School of Fin­ance (VGSF). It serves as a present­a­tion plat­form for PhD stu­dents, fac­ulty mem­bers, and vis­it­ors. An over­view of BBS on the web­site of the In­sti­tute for Fin­ance, Bank­ing and In­sur­ance.


Pi­etro Ver­onesi, Uni­versity of Ch­icago, NBER, and CEPR

Self-im­age Bias and Lost Tal­ent

We pro­pose an over­lap­ping-­gen­er­a­tion model wherein re­search­ers belong to two groups, M or F, and es­tab­lished re­search­ers evalu­ate new re­search­ers. Group im­bal­ance ob­tains even with group-neut­ral evalu­ations and identical pro­ductiv­ity dis­tri­bu­tions. Evalu­at­ors’ self-im­age bias and mild between-­group het­ero­gen­eity in equally pro­duct­ive re­search char­ac­ter­ist­ics lead the ini­tially dom­in­ant group, say M, to pro­mote schol­ars sim­ilar to them. Pro­moted F-re­search­ers are few and sim­ilar to M-re­search­ers, per­petu­at­ing im­bal­ance. Con­sist­ently with the data, our mech­an­ism also pre­dicts stronger and widen­ing group im­bal­ance in top in­sti­tu­tions; higher qual­ity of ac­cep­ted F-re­search­ers; clus­ter­ing of M- and F-re­search­ers across dif­fer­ent fields; greater im­bal­ance for seni­ors than ju­ni­ors; less credit for F-re­search­ers in co-au­thored work; and es­tab­lished re­search­ers’ false per­cep­tion that in­creas­ing F-rep­res­ent­a­tion re­duces qual­ity. Poli­cy-­wise, ment­or­ship re­duces group im­bal­ance, but in­creases F-­group tal­ent loss. Af­firm­at­ive ac­tion re­duces both.

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