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Life-Cycle, Effort and Academic Deadwood

Yu-Fu Chen and Gylfi Zoega

No 233, Dundee Discussion Papers in Economics from Economic Studies, University of Dundee

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 (search for similar items in EconPapers)
JEL-codes: J22 J44 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2010-04
New Economics Papers: this item is included in nep-age and nep-sog
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