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ERIC Number: EJ108045
Record Type: CIJE
Publication Date: 1974
Pages: N/A
Abstractor: N/A
Reference Count: 0
Faculty Tenure as a Put Option: An Economic Interpretation
McDonald, John G.
Social Science Quarterly, 55, 2, 362-371, Sep 74
This article examines the economic view of tenure as a put option for future faculty services. Tenure is described as a financial contract which universities have agreed to write and professors have agreed to accept in lieu of higher current wages. The economic perspective suggests the riskiness of a faculty member's total income stream is an important comparison in the tenure decision. (DE)
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