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Antitrust and Higher Education: Was There a Conspiracy to Restrict Financial Aid?

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Author Info
Dennis W. Carlton
Gustavo E. Bamberger
Roy J. Epstein

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Abstract

In 1991, the U.S. Justice Department's Antitrust Division accused MIT and the Ivy League schools of fixing prices. The schools claimed that their cooperative behavior enabled them to concentrate financial aid on needy students and did not affect price. We analyze the empirical determinants of tuition and find no evidence that the schools' agreement raised price. We also analyze the appropriate application of the antitrust laws to nonprofit institutions and conclude that, in the absence of adverse price or output effects, the justification for the collective action should be considered under the "Rule of Reason."

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Publisher Info
Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 26 (1995)
Issue (Month): 1 (Spring)
Pages: 131-147
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Handle: RePEc:rje:randje:v:26:y:1995:i:spring:p:131-147

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Tjalling C. Koopmans & Martin J. Beckmann, 1955. "Assignment Problems and the Location of Economic Activities," Cowles Foundation Discussion Papers 4, Cowles Foundation, Yale University. [Downloadable!]
  2. Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-71, November. [Downloadable!] (restricted)
  3. Michael Rothschild & Lawrence J. White, 1991. "The University in the Marketplace: Some Insights and Some Puzzles," NBER Working Papers 3853, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Dennis W. Carlton & Gustavo E. Bamberger & Roy J. Epstein, 1994. "Antitrust and Higher Education," University of Chicago - George G. Stigler Center for Study of Economy and State 107, Chicago - Center for Study of Economy and State.
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Holger Sieg & Dennis Epple & Richard Romano, 2003. "Peer effects, financial aid and selection of students into colleges and universities: an empirical analysis," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(5), pages 501-525. [Downloadable!]
    Other versions:
  2. Alexis Walckiers, 2008. "Multi-dimensional contracts with task-specific productivity: an application to universities," International Tax and Public Finance, Springer, vol. 15(2), pages 165-198, April. [Downloadable!] (restricted)
  3. Gordon C. Winston, 1999. "Subsidies, Hierarchy and Peers: The Awkward Economics of Higher Education," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 13-36, Winter. [Downloadable!] (restricted)
  4. Becker, William E. & Round, David K., 2009. "'The' Market for Higher Education: Does It Really Exist?," IZA Discussion Papers 4092, Institute for the Study of Labor (IZA). [Downloadable!]
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