Volume 10, Number 1 (Winter) 1975
Becker, William E., Jr. 1975. "The University Professor as a Utility Maximizer and Producer of Learning, Research, and Income." Journal of Human Resources 10(1):107-115.
Numerous plans have been proposed for improving the teaching quality at major universities. These schemes typically do not rest on identifiable economic models. In this paper, a professorial decision-making model is presented for the purpose of exploring alternative plans to raise teaching quality. Using a Lancaster methodology, where time is a variable input, it is demonstrated that an increase in the pecuniary return to teaching will raise teaching quality while exogenous changes in teaching and/or research technology need not.
The author is an Assistant Professor and Director of Economic Education at the University of Minnesota. Constructive criticism of an earlier draft was provided by John Danforth, John Hause, Jack Rodgers, Jim Simler, and other members of the Fall 1973 Minnesota Human Capital Workshop. Jack Rodgers was of special assistance in rechecking algebraic manipulations and implications.
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