Should we forget the production function?

posted by
August 18, 2011
by Arnold Kling  
Posted in Commentary

"Imagine you are the chairman of an economics department. When you hire, do you think in terms of a production function? Probably not. You think about whether you need senior faculty or junior faculty. You think about whether you want to build a capability in behavioral economics or add to your capability in labor market econometrics. How much does salary enter into your thinking?" (08/18/11)  

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