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Equal Educational Opportunity and the Significance of Circumstantial Knowledge

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  • Gary Scott
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    Abstract

    The contributions of a school and pupil to learning are isolated with a unique interpretation of the education production function. Variance in pre-test scores and study time is then discovered to constrain efficiency and equal opportunity within schools. This dispersion creates the potential for Pareto exchange between schools resulting in higher and more equal educational opportunity among pupils across several schools. Finally, a voucher policy empowers persons possessing the necessary circumstantial knowledge for recognizing these Pareto exchanges to execute them.

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    File URL: http://www.tandfonline.com/10.1080/096452900750046706
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Education Economics.

    Volume (Year): 8 (2000)
    Issue (Month): 3 ()
    Pages: 197-208

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    Handle: RePEc:taf:edecon:v:8:y:2000:i:3:p:197-208

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    1. Joseph E. Stiglitz, 1996. "Whither Socialism?," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691825, December.
    2. Bruce Caldwell, 1997. "Hayek and Socialism," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 1856-1890, December.
    3. Hanushek, Eric A, 1986. "The Economics of Schooling: Production and Efficiency in Public Schools," Journal of Economic Literature, American Economic Association, vol. 24(3), pages 1141-77, September.
    4. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    5. Peter Rangazas, 1997. "Competition and Private School Vouchers," Education Economics, Taylor & Francis Journals, vol. 5(3), pages 245-263.
    6. Brown, Byron W & Saks, Daniel H, 1975. "The Production and Distribution of Cognitive Skills within Schools," Journal of Political Economy, University of Chicago Press, vol. 83(3), pages 571-93, June.
    7. Rapple, Brendan A., 1992. "A Victorian experiment in economic efficiency in education," Economics of Education Review, Elsevier, vol. 11(4), pages 301-316, December.
    8. Caroline Minter Hoxby, 1996. "Are Efficiency and Equity in School Finance Substitutes or Complements?," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 51-72, Fall.
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