Rate My Professor Marko Terviö

Marko Terviö is a Professor in the Department of Economics at Aalto University. He specializes in labor economics and microeconomics. Terviö received his M.Soc.Sc. in Economics from the University of Helsinki in 1997 and his Ph.D. in Economics from the Massachusetts Institute of Technology in 2003. From 2003 to 2009, he served as Assistant Professor at the Haas School of Business, University of California, Berkeley. Since 2009, he has been a Professor at Aalto University School of Business, initially on a five-year appointment until 2014, and continuing thereafter. As of August 2025, he is the Academic Director of the Helsinki Graduate School of Economics.

Terviö's research focuses on microeconomics, primarily labor markets and secondarily housing markets, employing both applied theoretical models and empirical methods with micro data, such as linked Finnish employer-employee registers. His influential publications include "The Difference that CEOs Make: An Assignment Model Approach" (American Economic Review, 2008), "Superstars and Mediocrities: Market Failure in the Discovery of Talent" (Review of Economic Studies, 2009), "Divisions within Academia: Evidence from Faculty Hiring and Placement" (Review of Economics and Statistics, 2011), "Income Distribution and Housing Prices: An Assignment Model Approach" with Niku Määttänen (Journal of Economic Theory, 2014), "Secular Rise in Economically Valuable Personality Traits" with Markus Jokela et al. (Proceedings of the National Academy of Sciences, 2017), "The Survival of Mediocre Superstars in the Labor Market" with Thomas Peeters and Stefan Szymanski (Journal of Law, Economics, and Organization, 2022), and "Welfare Effects of Housing Transaction Taxes: A Quantitative Analysis with an Assignment Model" with Niku Määttänen (Economic Journal, 2022). Terviö received the European Research Council Starting Grant (2009-2014), Suomen Arvopaperimarkkinoiden Edistämissäätiön tunnustuspalkinto (2010), and Eino Jutikkala prize from the Finnish Academy of Science and Letters (2012). He served on the editorial board of Review of Economic Studies (2009-2016) and as associate editor for Journal of the European Economic Association (2011-2016).