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Goodbye, ivory tower; hello, Silicon Valley candy store

Silicon Valley is turning to the dismal science in its never-ending quest to squeeze more money out of old markets and build new ones

Steve Lohr 

For eight years, Peter Coles had an economist's dream job at Harvard Business School. His research focused on the design of efficient markets, an important and growing field that has influenced such things as Treasury bill auctions and decisions on who receives organ transplants. He even got to work with Alvin E Roth, who won a Nobel in economic science in 2012. But prestige was not enough to keep Coles at Harvard. In 2013, he moved to the San Francisco Bay Area. He now works at Airbnb, the online lodging marketplace, one of a number of tech companies luring economists with the promise ...

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First Published: Mon, September 05 2016. 00:12 IST
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