This review maps out the labour market situation of PhDs employed in the private sector. To begin with, the theoretical motives for employing PhDs and the supporting empirical evidence are examined. The potential benefits of companies from employing PhDs can be divided into productivity and...

I study the human capital development and firm-worker matching processes for PhD economists.This group is useful for this purpose because the types of jobs they hold can be easily categorized and they have an observable roductivity measure (that is,publications.)I derive a two-period model to...