Why are top researchers paid so much while top teachers are recognized, if at all, with awards of little dollar value?

We wonder, could it somehow have to do with the research function being just a little more clearly defined as "public" good than the more personally-directed academic function, which may be seen by more as a "private" good? These authors go from here:

During your undergraduate studies you were introduced to several luminaries in your field who receive considerable attention from the news media and are often on the lecture circuit. They are well-known for their six-figure salaries and commanding positions in your discipline. So far, it’s all good. Except …

Unfortunately, the luminosity of the luminaries has nothing to do with their teaching prowess; it is entirely due to their scholarship. There is a thriving market for senior scholars in higher education -- a market that brings plenty of release time from teaching, along with high salaries and fame.

There is no corresponding market for world-class teachers. No one in higher education becomes famous or well-compensated for exceptional teaching. How could this happen, since the students, parents, and taxpayers (those who pay the bills) have only a passing interest in research, but an abiding and personal stake in high-quality teaching?

Before we address that question, it is important to note there are many social benefits to be derived from an efficient market for senior scholars; the existence of that market is not the problem. Only spite and envy would ban the market for scholars as some ill-conceived “fix” for the imbalance between teaching and research. The correct response is to learn why we have a market for scholars and no market for teachers.

The critical reason why one market exists and the other does not is the information available to potential employers. Potential employers of professors have sufficient information to judge scholarly productivity, but virtually no information that would allow them to judge teaching productivity.