Philip J. Erickson
I am a PhD Candidate in Economics at the University of Iowa, specializing in empirical industrial organization. My research agenda is currently centered on the effects of information asymmetry on market inefficiency. I am working on my dissertation, which examines the asymmetric information structure in the market for training lawyers, a special case of markets in which consumers can only imperfectly differentiate between quality of producers and in which the quality of consumers matters to producers. I use dynamic game estimation to highlight how reputation effects and information structure lead to an equilibrium-enforced mismatch between schools and students, which has been the cause of much of the concern regarding the "lawyer glut" in the United States. I also show that this mismatch can partially be remedied by providing better information to potential law students concerning the value of attending any given law school and give a corresponding measure of the resulting benefit to society.
I am on the job market this year and will be available for interviews at the 2016 AEA/ASSA Meetings.