nep-sog New Economics Papers
on Sociology of Economics
Issue of 2010‒04‒24
one paper chosen by
Jonas Holmström
Swedish School of Economics and Business Administration

  1. Life-Cycle, Effort and Academic Deadwood By Yu-Fu Chen; Gylfi Zoega

  1. By: Yu-Fu Chen; Gylfi Zoega
    Abstract: It has been observed that university professors sometimes become less research active in their mature years. This paper models the decision to become inactive as a utility maximising problem under conditions of uncertainty and derives an age-dependent inactivity condition for the level of research productivity. The economic analysis is applicable to other professions as well were work effort is difficult to observe along some dimensions.
    Keywords: Deadwood, aging, optimal stopping, salary schemes
    JEL: J44 J22
    Date: 2010–04

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