nep-sog 2010-04-24 papers

on Sociology of Economics

Issue of 2010‒04‒24
one paper chosen by
Jonas Holmström
Swedish School of Economics and Business Administration

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

Life-Cycle, Effort and Academic Deadwood

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:	http://d.repec.org/n?u=RePEc:dun:dpaper:233&r=sog

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