Academic Publishing, Talking Frogs, and Nailing Your Head to the Floor
The Answer Is Transaction Costs
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Introduction
This week's letter is from Mike Munger, the knower of important things from Duke University. He would love to hear your thoughts on academic publishing through the lens of transaction costs. The only justification I can think of for tenure that actually works is that we're hoping professors will do more and better research when all material incentive to do so is removed. And he also talks about deans who can count but can't read, getting your head nailed to the floor, and the insectivores dilemma.
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