Trading Professors: Re-Creating Markets for Tenured Faculty
M. Shahid Alam
March 9, 2012
We argue that tenure leads to a virtual closure of active markets for tenured faculty; if tenured professors cannot be fired, this generally means that they cannot also move to another academic position. This market closure creates institutional rigidity and reduces faculty incentives. As a solution to these problems, we propose re-creating markets for tenured faculty by opening up a 'trade' in professors across departments within the same college, and across colleges.
Number of Pages in PDF File: 15
Keywords: Professor, academic, university, college, tenure, market, re-creating markets, football, baseball, trade, trading players, flexibility, rigidity, mobility, labor markets, hiring
JEL Classification: J00, J01, J24, J44, J60, J62, I23, L31, L83working papers series
Date posted: March 11, 2012
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