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Raiding and Signaling in the Academic Labor Market
The purpose of this paper is to consider whether time spent in research by faculty may enhance
social welfare even if there is no direct social value from research. If, absent a direct social value from it,
research may be efficient, the possibility of a direct social value for research would then enhance the
efficiency justification for research.
Link
http://econ.appstate.edu/RePEc/pdf/wp0521.pdf