What is EconMatch?
EconMatch is a recommender system that suggests which candidates an employer should consider pursuing after the AEAs. We collect the preferences of candidates and employers to “play out” the market and identify the best, attainable match for each employer; these suggested matches are also the best, attainable placements for each candidate.
The recommender system is based on a modified (candidate-proposing) Gale-Shapley algorithm which identifies mutual matches. We hope that this facilitates good pairings among candidates and employers, while reducing congestion in the labor market for economists.
To maximize the odds that you match with preferred candidates/employers, it is usually optimal to honestly reveal your preference ranking. Everything we collect is confidential—we will not share your information with anyone.
The problem we solve
Employers can err either by (1) pursuing candidates that will have better offers, or (2) neglecting preferred, attainable candidates in favor of those that seem more likely to accept an offer. Put simply, employers justifiably struggle to identify the best, attainable candidate.
These errors are also costly for interested job-seekers. When an employer unknowingly shoots too high, or too low, the best, interested candidate is passed over.
This coordination failure comes from two related sources. In part, it reflects the difficulty of candidates to credibly signal their interest. But also, when considering a candidate, an employer is unlikely to know how other departments will respond to the candidate and whether that candidate will, in the end, prefer those other options. This herculean guesswork leaves many advantageous matches unrealized.
Aiding both candidates and employers, our algorithm “plays out” the market, which guides interested parties toward one another, so that both employers and candidates are well served.
For more information on how the algorithm works, check out our FAQ