The Sensitivity of Capital Use to Price in Higher Education
AbstractWe test whether U.S. colleges and universities adjust their physical capital intensity to differences in factor prices by regressing the square feet of space per student on construction prices across institutions. The results indicate that physical space at selective liberal arts colleges and private comprehensive universities is unresponsive to relative factor prices. At public universities comprehensive universities the evidence suggests that students enjoy more space where building costs are lower. We are unable to explain a relationship for two-year colleges.
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Bibliographic InfoPaper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0405.
Date of creation: Feb 2004
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factor price effects on college input ratios;
Other versions of this item:
- Malcolm Getz & John J. Siegfried, 2004. "The Sensitivity of Capital Use to Price in Higher Education," Review of Industrial Organization, Springer, vol. 24(4), pages 379-391, 06.
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
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- Getz, Malcolm & Siegfried, John J. & Zhang, Hao, 1991. "Estimating economies of scale in higher education," Economics Letters, Elsevier, vol. 37(2), pages 203-208, October.
- Gordon C. Winston & Yen, I.C., 1995. "Costs, Prices, Subsidies, and Aid in U.S. Higher Education," Williams Project on the Economics of Higher Education DP-32, Department of Economics, Williams College.
- Gordon C. Winston & Lewis, E.G., 1996. "Physical Capital and Capital Costs in US Colleges and Universities: 1993," Williams Project on the Economics of Higher Education DP-35, Department of Economics, Williams College.
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