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The Analytics of the Pricing of Higher Education and Other Services in Which the Customers Are Inputs

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Author Info
Rothschild, Michael
White, Lawrence J

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Abstract

Many services provide outputs that depend partially on the customers as inputs; the presence of other customers often contributes to the output experienced by each purchaser. Higher education is the premier example; others are legion. The authors provide a simple model that addresses the questions of competitive pricing and allocative efficiency for these types of services. Prices that charge customers for what they get on net (output minus input) from the firm both are competitive and support efficient allocations; these prices internalize the apparent external effects of customers on each other. Few examples of such prices exist in the real world. Copyright 1995 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 103 (1995)
Issue (Month): 3 (June)
Pages: 573-86
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Handle: RePEc:ucp:jpolec:v:103:y:1995:i:3:p:573-86

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  1. Frederick van der Ploeg & Reinhilde Veugelers, 2007. "Higher Education Reform and the Renewed Lisbon Strategy: Role of Member States and the European Commission," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  2. Takashi Oshio & Shinpei Sano & Yuko Ueno & Kouichiro Mino, 2008. "Evaluations by parents of education reforms: Evidence from a parent survey in Japan," Discussion Papers 0821, Graduate School of Economics, Kobe University. [Downloadable!]
  3. Tali Regev, 2007. "Imperfect information, self-selection and the market for higher education," Working Paper Series 2007-18, Federal Reserve Bank of San Francisco. [Downloadable!]
  4. Alexander Kemnitz, . "Funding, Competition and Quality in Higher Education," IVS discussion paper series 610, Institut für Volkswirtschaft und Statistik (IVS), University of Mannheim. [Downloadable!]
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  5. Egon Franck & Christian Opitz, 2004. "The singularity of the German doctorate as a signal for talent: Causes, consequences and future developments," Working Papers 0028, University of Zurich, Institute for Strategy and Business Economics (ISU). [Downloadable!]
  6. Cater, Bruce & Lew, Byron & Pivato, Marcus, 2009. "Why tenure?," MPRA Paper 14823, University Library of Munich, Germany. [Downloadable!]
  7. Elizabeth Becker & Cotton M. Lindsay & Gary Grizzle, 2003. "The derived demand for faculty research," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(8), pages 549-567. [Downloadable!]
  8. Laura Romero, 2005. "On the role of borrowing constraints in public and private universities' choices," Economics Bulletin, Economics Bulletin, vol. 9(6), pages 1-8. [Downloadable!]
  9. DEL REY, Elena, 2000. "Teaching versus research: a model of state univerity competition," CORE Discussion Papers 2000030, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
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  10. Gary-Bobo, Robert J. & Trannoy, Alain, 2005. "Efficient Tuition & Fees, Examinations and Subsidies," CEPR Discussion Papers 5011, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  11. Joan Rosselló, 2007. "Does a public university system avoid the stratification of public universities and the segregation of students?," DEA Working Papers 26, Universitat de les Illes Balears, Departament d'Economía Aplicada. [Downloadable!]
  12. Egon Franck & Torsten Pudack & Christian Opitz, 2001. "Zur Funktion von Topmanagement-Beratungen als Karrieresprungsbrett für High Potentials," Working Papers 0003, University of Zurich, Institute for Strategy and Business Economics (ISU). [Downloadable!]
  13. 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!]
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  14. Dahlia K. Remler & Elda Pema, 2009. "Why do Institutions of Higher Education Reward Research While Selling Education?," NBER Working Papers 14974, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  15. Christopher C. Klein, 2007. "Efficiency versus Effectiveness: Interpreting Education Production Studies," Working Papers 200703, Middle Tennessee State University, Department of Economics and Finance. [Downloadable!]
  16. James D. Adams & J. Roger Clemmons, 2006. "The Growing Allocative Inefficiency of the U.S. Higher Education Sector," Rensselaer Working Papers in Economics 0611, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
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  17. Hoxby, Caroline Minter, 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. [Downloadable!] (restricted)
  18. Fernandez, R., 1998. "Education and Borrowing Constraints: Tests vs Prices," Working Papers 98-17, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
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  19. Laura Romero & Elena del Rey, 2004. "Competition Between Public And Private Universities: Quality, Prices And Exams," Economics Working Papers we046423, Universidad Carlos III, Departamento de Economía. [Downloadable!]
  20. Robert A. J. Dur & Amihai Glazer, 2005. "Subsidizing Enjoyable Education," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  21. Donald Robertson & James Symons, 2003. "Self-selection in the state school system," Education Economics, Taylor and Francis Journals, vol. 11(3), pages 259-272, December. [Downloadable!] (restricted)
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  22. Jeffrey A. Groen & Michelle J. White, 2003. "In-State versus Out-of State Students: The Divergence of Interest between Public Universities and State Governments," NBER Working Papers 9603, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  23. C.R. Belfield, A.P. Beney, 2000. "What Determines Alumni Generosity? Evidence for the UK," Education Economics, Taylor and Francis Journals, vol. 8(1), pages 65-80, April. [Downloadable!] (restricted)
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