The Hedonic Price Structure Of Faculty Compensation At U.S. Colleges And Universities

David E. Clark and Thomas A. Knapp
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David E. Clark: Marquette University
Thomas A. Knapp: Pennsylvania State University-Wilkes Barre

The Review of Regional Studies, 1995, vol. 25, issue 2, 117-141

Abstract: Economic theory suggests that the variation in academic salaries across institutions in part reflects compensating differences associated with variation in the levels of local "quality of life" factors such as environmental quality and the provision of local public services. This paper presents an econometric analysis of the hedonic, or implicit price structure, of faculty compensation at U.S. colleges and universities using data from AAUP merged with data on a host of location-specific characteristics. Quality of life factors are found to be important, accounting for between 7 percent and 12.8 percent of total compensation.

Date: 1995
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