External Value of the Nobel

[John-charles Bradbury]

There is an article in this morning's Wash Post that disputes the value of the recent Nobels awarded to professots at GMU and VCU to their respective institutions.  "Still, David W. Breneman, dean of U-Va.'s education school and a scholar of higher education, said the Nobels signify little more than bragging rights for the schools. Fenn, 85, spent his most fruitful period of research at Yale University before accepting VCU's offer of a laboratory after his 1994 retirement. Smith, 75, already was being heralded as a likely future Nobel winner when GMU snagged him last year. "This is not an indication that the young people at either of these two institutions are doing work that's likely to produce Nobel prizes years from now," Breneman said. " This person is clearly a loser because 1) he is a Dean and 2) works in the education field; but he raises a legitamate question.  How much more valuable are faculty positions and diplomas from graduate programs with Nobels? How do Harvard (graduate degree provider) and Arizona (long-time employer) benefit from Smith's Nobel relative to GMU (current employer)? How might we measure this?   _________________________ John-Charles Bradbury, Ph.D. Department of Economics The University of the South 735 University Ave. Sewanee, TN 37383 -1000 Phone: (931) 598-1721 Fax: (931) 598-1145 E-mail: [EMAIL PROTECTED] http://bradbury.sewanee.edu