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Life-Cycle, Effort and Academic Deadwood

Author

Listed:
  • 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.

Suggested Citation

  • Yu-Fu Chen & Gylfi Zoega, 2010. "Life-Cycle, Effort and Academic Deadwood," Dundee Discussion Papers in Economics 233, Economic Studies, University of Dundee.
    • Handle: RePEc:dun:dpaper:233
    as

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    File URL: http://www.dundee.ac.uk/media/dundeewebsite/economicstudies/documents/discussion/DDPE_233.pdf
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    References listed on IDEAS

    as
    1. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-864, October.
    2. Jan Ours, 2009. "Will You Still Need Me: When I’m 64?," De Economist, Springer, vol. 157(4), pages 441-460, December.
    3. Benjamin F. Jones, 2010. "Age and Great Invention," The Review of Economics and Statistics, MIT Press, vol. 92(1), pages 1-14, February.
    4. Frank, Robert H, 1984. "Are Workers Paid Their Marginal Products?," American Economic Review, American Economic Association, vol. 74(4), pages 549-571, September.
    5. Sharon M. Oster & Daniel S. Hamermesh, 1998. "Aging And Productivity Among Economists," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 154-156, February.
    6. Fair, Ray C, 1994. "How Fast Do Old Men Slow Down?," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 103-118, February.
    7. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
    8. Chen, Yu-Fu & Zoega, Gylfi, 2010. "An essay on the generational effect of employment protection," Mathematical Social Sciences, Elsevier, vol. 59(3), pages 349-359, May.
    9. Alison L. Booth & Gylfi Zoega, 2004. "Is wage compression a necessary condition for firm-financed general training?," Oxford Economic Papers, Oxford University Press, vol. 56(1), pages 88-97, January.
    10. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-444, June.
    11. Ray Fair, 2004. "Estimated Age Effects in Athletic Events and Chess," Yale School of Management Working Papers amz2481, Yale School of Management, revised 01 Aug 2007.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. How to avoid academic deadwood
      by Economic Logician in Economic Logic on 2010-05-31 20:20:00

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    More about this item

    Keywords

    Deadwood; aging; optimal stopping; salary schemes;
    All these keywords.

    JEL classification:

    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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    1. Economic Logic blog

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