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How Might Adam Smith Pay Professors Today?

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  • Timothy Perri

Abstract

Adam Smith’s proposal for paying professors was intended to induce increased faculty knowledge. If students have imperfect information about what they learn, and universities can only imperfectly measure the input of faculty time in student learning, publicati:

Suggested Citation

  • Timothy Perri, "undated". "How Might Adam Smith Pay Professors Today?," Working Papers 04-08, Department of Economics, Appalachian State University.
    • Handle: RePEc:apl:wpaper:04-08
    as

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    References listed on IDEAS

    as
    1. McCormick, Robert E & Meiners, Roger E, 1988. "University Governance: A Property Rights Perspective," Journal of Law and Economics, University of Chicago Press, vol. 31(2), pages 423-442, October.
    2. Zhiqi Chen & J. Stephen Ferris, 1999. "A Theory of Tenure for the Teaching University," Australian Economic Papers, Wiley Blackwell, vol. 38(1), pages 9-25, January.
    3. William E. Becker & William Bosshardt & Michael Watts, 2012. "How Departments of Economics Evaluate Teaching," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(3), pages 325-333, July.
    4. Siow, Aloysius, 1997. "Some evidence on the signalling role of research in academia," Economics Letters, Elsevier, vol. 54(3), pages 271-276, July.
    5. Elizabeth Becker & Cotton M. Lindsay & Gary Grizzle, 2003. "The derived demand for faculty research," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(8), pages 549-567.
    6. Arthur M. Diamond, 1993. "Economic Explanations of the Behaviour of Universities and Scholars," Journal of Economic Studies, Emerald Group Publishing, vol. 20(4/5), pages 107-133, September.
    7. Rosen, Sherwin, 1987. "Some Economics of Teaching," Journal of Labor Economics, University of Chicago Press, vol. 5(4), pages 561-575, October.
    8. McDowell, John M, 1982. "Obsolescence of Knowledge and Career Publication Profiles: Some Evidence of Differences among Fields in Costs of Interrupted Careers," American Economic Review, American Economic Association, vol. 72(4), pages 752-768, September.
    9. Stigler, George J., 1989. "The Future of Higher Education: An Economic Perspective," Working Papers 56, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
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