Monday, May 17, 2004

Marshalling reinforcements 

Cold Spring Shops notes in response to my economic analysis last week that students and parents will pay a premium for school name regardless of who teaches. Stephen suggests as well that if you could more reasonably assure tenure "at defense of dissertation", you'd get lower salaries by eliminating the risk premium new Ph.D.'s require to take the chance that they won't get it. I suspect that premium is very small. And again, is faculty salary marginal or inframarginal when it comes to deciding tuition?