Institutions of Higher Education as Multi-product Firms: Economies of Scale and Scope
AbstractA multiple-output cost function is estimated for institutions of higher education in the United States, employing data for 1981-82. The authors flexible fixed cost quadratic function includes three outputs--undergraduate teaching, graduate teaching, and research grants--and one input price--average faculty salaries. Results indicate the existence of scope economies (at least up to a point) for both public and private institutions of higher education. Ray economies of scale are more pronounced in the private sector and product-specific economies of scale are observed only in the public sector for research and graduate teaching. Copyright 1989 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 71 (1989)
Issue (Month): 2 (May)
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Web page: http://mitpress.mit.edu/journals/
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