Life-Cycle, Effort and Academic Deadwood
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.
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- Alison L. Booth & Gylfi Zoega, 2004.
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