Implications of grade inflation: knowledge illusion and economic inefficiency in the knowledge market
AbstractIn this paper, we adopt the neoclassical model of consumer choice and view students as a utility maximizer to investigate two implied issues caused by grade inflation – knowledge illusion and economic inefficiency in the knowledge market. These issues are important because they negatively impact the quality of higher education and weaken the signaling role of educational credentials in screening workers. More importantly, students eventually suffer a loss in well-being in the knowledge market and become less productive and competitive in the labor market.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 29 (2009)
Issue (Month): 3 ()
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grade inflation; knowledge illusion; economic inefficiency;
Find related papers by JEL classification:
- A2 - General Economics and Teaching - - Economic Education and Teaching of Economics
- D0 - Microeconomics - - General
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