What Can International Cricket Teach Us About the Role of Luck in Labor Markets?
SSRN Electronic Journal
2009
- 1Citations
- 4,666Usage
- 6Captures
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Article Description
How important is luck in labor market outcomes? This paper uses a new dataset of all international test cricketers who debuted between 1950 and 1985 to address this question. We present evidence that a player’s debut performance is strongly affected by an exogenous source of variation: whether the debut series is played at home or abroad. This allows us to identify the role of luck — factors unrelated to ability — in shaping future career outcomes. We find that players lucky enough to debut at home — a good first job — perform significantly better on debut. We also find that debut performance has a large and persistent impact on long run career outcomes in part because team managements use information inefficiently.
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