| 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 |
| URL: |
https://d.repec.org/n?u=RePEc:dun:dpaper:233 |