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Are Agricultural Experiment Station Faculty Salaries Competitively Or Monopsonistically Determined?

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  • Barrett, Christopher B.
  • Bailey, DeeVon

Abstract

We examine the determinants of agricultural experiment station faculty salaries and find that productivity pays-as manifest by grantsmanship, publications, and the elicitation of competing offers-with no residual evidence of a negative seniority-salary relationship that could signal university monopsony power. This contrasts with findings in the previous literature on faculty salaries. Moreover, national market salary benchmarks, which may proxy for imperfectly observable productivity, correlate almost one-for-one with individual faculty salaries, with individual deviations from peers' salaries proving essentially random. This evidence is much more consistent with the hypothesis that experiment station faculty salaries are determined in a competitive labor market than with the prevailing wisdom that they are set monopsonistically.

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Bibliographic Info

Paper provided by Utah State University, Economics Department in its series Economics Research Institute, ERI Study Papers with number 28370.

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Date of creation: 1998
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Handle: RePEc:ags:usuesp:28370

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Web page: http://www.econ.usu.edu/
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Related research

Keywords: Labor and Human Capital; Teaching/Communication/Extension/Profession;

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References

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  1. Ransom, Michael R, 1993. "Seniority and Monopsony in the Academic Labor Market," American Economic Review, American Economic Association, vol. 83(1), pages 221-33, March.
  2. William M. Boal & Michael R. Ransom, 1997. "Monopsony in the Labor Market," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 86-112, March.
  3. Harris, Milton & Holstrom, Bengt, 1982. "A Theory of Wage Dynamics," Review of Economic Studies, Wiley Blackwell, vol. 49(3), pages 315-33, July.
  4. Kevin Hallock, 1994. "Seniority and Monopsony in the Academic Labor Market: Comment," Working Papers 715, Princeton University, Department of Economics, Industrial Relations Section..
  5. Bhattacharya, Sudipto & Guasch, J Luis, 1988. "Heterogeneity, Tournaments, and Hierarchies," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 867-81, August.
  6. Edward P. Lazear & Sherwin Rosen, 1979. "Rank-Order Tournaments as Optimum Labor Contracts," NBER Working Papers 0401, National Bureau of Economic Research, Inc.
  7. Gordon, Nancy M & Morton, Thomas E & Braden, Ina C, 1974. "Faculty Salaries: Is There Discrimination by Sex, Race, and Discipline?," American Economic Review, American Economic Association, vol. 64(3), pages 419-27, June.
  8. J. A. Hausman, 1976. "Specification Tests in Econometrics," Working papers 185, Massachusetts Institute of Technology (MIT), Department of Economics.
  9. Barbezat, Debra A. & Donihue, Michael R., 1998. "Do faculty salaries rise with job seniority?," Economics Letters, Elsevier, vol. 58(2), pages 239-244, February.
  10. Hashimoto, Masanori, 1981. "Firm-Specific Human Capital as a Shared Investment," American Economic Review, American Economic Association, vol. 71(3), pages 475-82, June.
  11. Hoffman, Emily P, 1976. "Faculty Salaries: Is There Discrimination by Sex, Race, and Discipline? Additional Evidence," American Economic Review, American Economic Association, vol. 66(1), pages 196-98, March.
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Citations

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Cited by:
  1. Barbezat, Debra A., 2004. "Revisiting the seniority wage effect for faculty," Economics Letters, Elsevier, vol. 82(2), pages 289-294, February.
  2. Hilmer, Christiana E. & Hilmer, Michael J., 2004. "On The Return To Journal Quality, Coauthorship And Author Order Within Top Ranked Agricultural Economics Programs," 2004 Annual meeting, August 1-4, Denver, CO 20179, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Popp, Jennie S. Hughes & Abdula, Arby & Newton, Doris J. & Pittman, Dianne & Danforth, Diana M., 2009. "Factors Influencing Salaries of Agricultural Economics Professionals at Land Grant Institutions," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46722, Southern Agricultural Economics Association.
  4. Srivastava, Lorie & Thilmany, Dawn D., 2000. "Agricultural Economists' Performance And Pay: An Analysis Of Land Grant University Salaries," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36511, Western Agricultural Economics Association.

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