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How Does the Governance of Academic Faculties Affect Competition Among Them?

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  • Prüfer, J.
  • Walz, U.

    (Tilburg University, Center for Economic Research)

Abstract

We analyze competition among academic faculties for new researchers. The value to individual members through social interaction within the faculty depends on the average status of their fellow members. When competing for new members, existing members trade off the effect of entry on average status of the faculty against the reduction in teaching load that can be bought if no entry takes place and the entrant's wage is saved. We show that the best candidates join the best faculties but that they receive lower wages than some lower-ranking candidates. Endogenizing the governance structure of the faculties, we show that the aggregate surplus of a faculty is maximized if a decision-making rule is implemented that makes the average faculty member pivotal. Our main policy implication is that consensus-based faculties, such as many in Europe, could improve the well-being of their members if they liberalized their internal decision making processes.

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Bibliographic Info

Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2009-49.

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Date of creation: 2009
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Handle: RePEc:dgr:kubcen:200949

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Web page: http://center.uvt.nl

Related research

Keywords: Academic faculties; university governance; organizational design; status organizations;

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  1. Scott E. Masten, 2006. "Authority and Commitment: Why Universities, Like Legislatures, Are Not Organized as Firms," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(3), pages 649-684, 09.
  2. Barbera, S. & Maschler, M. & Shalev, J., 2001. "Voting for Voters: A Model of Electoral Evolution," Games and Economic Behavior, Elsevier, vol. 37(1), pages 40-78, October.
  3. Hansmann, Henry, 1986. "A Theory of Status Organizations," Journal of Law, Economics and Organization, Oxford University Press, vol. 2(1), pages 119-30, Spring.
  4. Epple, Dennis & Romano, Richard E, 1998. "Competition between Private and Public Schools, Vouchers, and Peer-Group Effects," American Economic Review, American Economic Association, vol. 88(1), pages 33-62, March.
  5. Dennis Epple & Richard Romano, 2002. "Educational Vouchers and Cream Skimming," NBER Working Papers 9354, National Bureau of Economic Research, Inc.
  6. Sandler, Todd & Tschirhart, John T, 1980. "The Economic Theory of Clubs: An Evaluative Survey," Journal of Economic Literature, American Economic Association, vol. 18(4), pages 1481-1521, December.
  7. Robert W. Helsley & William C. Strange, 1991. "Exclusion and the Theory of Clubs," Canadian Journal of Economics, Canadian Economics Association, vol. 24(4), pages 889-99, November.
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