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Wage Distribution Impacts Of Higher Education Faculty Unionization, Charles S. Wassell Jr., David W. Hedrick, Steven E. Henson, John M. Krieg
Wage Distribution Impacts Of Higher Education Faculty Unionization, Charles S. Wassell Jr., David W. Hedrick, Steven E. Henson, John M. Krieg
Economics Faculty Scholarship
The literature on the effects of unions on the distribution of wages at the macroeconomic and inter-industry levels has given little attention to the effects at the firm level. At the same time, research on collective bargaining impacts in higher education has focused on the overall wage level rather than on the distribution of salaries. Using panel data on individual faculty members, we find faculty unionization to be associated with a significant flattening of the wage distribution across academic disciplines. This has implications for why faculty might choose to unionize, even in the absence of an overall wage premium.
A Primer On Profit Maximization, Robert Carbaugh, Tyler Prante
A Primer On Profit Maximization, Robert Carbaugh, Tyler Prante
All Faculty Scholarship for the College of Business
Although textbooks in intermediate microeconomics and managerial economics discuss the first-order condition for profit maximization (marginal revenue equals marginal cost) for pure competition and monopoly, they tend to ignore the second-order condition (marginal cost cuts marginal revenue from below). Mathematical economics textbooks also tend to provide only tangential treatment of the necessary and sufficient conditions for profit maximization. This paper fills the void in the textbook literature by combining mathematical and graphical analysis to more fully explain the profit maximizing hypothesis under a variety of market structures and cost conditions. It is intended to be a useful primer for all …