Why Are Physicists Drawn to Economics?

Orderstatistic

Even before the financial crisis, there has always been a surprising number of ex-physicists who find their way to graduate study in economics. It could be that many of these math-physics people have simply concluded that they no longer like physics and are interested in economics instead. (Moreover, the job market for economics Ph.D’s is much better than the job market for physics Ph.D’s.) I suspect however that some of them are here because they have some incorrect perceptions about the field. A student with a mathematical-physics background could easily convince himself that he has superior mathematics abilities than typical economists and superior statistical and computational skills than most economists.[1] He might go on to conclude that, as a consequence of his superior mathematical and computational abilities, he should be able to enter economics and start contributing quickly and easily. He might also anticipate that he could easily adapt established…

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