lukestein’s avatarlukestein’s Twitter Archive—№ 5,561

    1. …in reply to @AsafManela
      @AsafManela Not sure I quite understand the “willing” framing. My mental model is roughly that lots of people like being scholars and they got producer surplus. *Some* of that surplus got dissipated when research output got more valuable so grad students chose to buy more of that attribute.
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  1. …in reply to @lukestein
    @AsafManela Question then would be why research output became more valuable? My best guesses (and this is for all fields, not just econ) is mainly an increase in supply of eager PhD students, and secondarily maybe a breakdown in some old collusive equilibrium among PhD students.
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