I don't see why any of the usual motivations would
be competed away, if they're true:
- up-or-out contracts efficient in presence of certain
forms of asymmetric information
- gives senior faculty incentive to hire junior faculty
better than they are
- academic freedom provided would cost a significant
compensating wage differential if not offered
Chris Auld
Department of Economics
University of Calgary
[EMAIL PROTECTED]
On Wed, 18 Sep 2002, fabio guillermo rojas wrote:
>
>
> Seriously, why does tenure exist at all? I know the motivations
> for tenure, but why isn't it competed away somehow? I would like
> to know what economic process ensures its continued existence.
>
> Fabio
>
>
>
