The Wall Street Journal front page today covered a story about Yahoo!'s recent hiring of economists. To compete with Google and MSN, Yahoo! greatly increased its R&D spending. Of course, they hired computer engineers for research. But economists can help, too. With abundant information collected from clicks by users, economists can play their best games, too. We analyze problems, create models, simulate the behaviors, and then predict outcomes. It is not much different from what engineers do. Yahoo! took the lead and hopefully they have created a new job market for economists by doing such.
The guy in the picture is an economics professor at Harvard. He is now Yahoo! bound.
(Picture: The Wall Street Journal)
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