Hedonic Wage Equations for Higher Education Faculty

6 Pages Posted: 30 Dec 2009

See all articles by Philip E. Graves

Philip E. Graves

University of Colorado at Boulder - Department of Economics

James Marchand

affiliation not provided to SSRN

Robert L. Sexton

Pepperdine University - Economics Department

Date Written: October 1, 2002

Abstract

This paper discusses the use of hedonic techniques to theoretically and empirically understand the wages of higher education faculty. The paper first presents theoretical models of department and faculty choice. These models represent a synthesis of prior work in the hedonic area. The models imply a hedonic wage equation for faculty with wages dependent on productivity, departmental amenities and locational amenities. The theoretical discussion is followed by exploratory and illustrative empirical work. In summary, the reported regressions show that increased teaching loads and secretaries per faculty member tend to decrease salaries while increasing referred journal articles, hotter than average summers, colder than average winters and a Ph.D. program tend to increase professor’s salaries.

Keywords: Educational economics, Salary wage differentials, wage hedonics

JEL Classification: C4, D2, J4

Suggested Citation

Graves, Philip E. and Marchand, James and Sexton, Robert L., Hedonic Wage Equations for Higher Education Faculty (October 1, 2002). Economics of Education Review, Vol. 21, No. 5, pp. 491-496, 2002. Available at SSRN: https://ssrn.com/abstract=1529505

Philip E. Graves (Contact Author)

University of Colorado at Boulder - Department of Economics ( email )

Campus Box 256
Boulder, CO 80309-0256
United States

James Marchand

affiliation not provided to SSRN ( email )

Robert L. Sexton

Pepperdine University - Economics Department ( email )

24255 Pacific Coast Highway
Malibu, CA 90263
United States

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