IDEAS home Printed from https://ideas.repec.org/a/blg/reveco/v62.3y2012i3p24-35.html
   My bibliography  Save this article

Between Subjective And Objective In Making Decisions On The Romanian Higher Education Market

Author

Listed:
  • DRUICA Elena

    (University of Bucharest, Romania)

  • CORNESCU Viorel

    (University of Bucharest, Romania)

  • IONESCU Vladimir-Codrin

    (University of Bucharest, Romania)

Abstract

Having roots in intentional behaviours, adverse selection as part of information asymmetry is a widely - discussed concept, closely related to many sides of economics and generating the most various problems in practice. As the specific literature says, the adverse selection leads, or at least in theory should lead to market failure when no external force comes to balance its effects. Since this failure never occurs in fact, it is questionable whether the adverse selection is the only factor that influences an uniformed consumer decision, or other factors come to counterbalance the factors described by Akerloff. This paper intends to advocate the idea that as much as adverse selection, there are subjective factors having impact on the decision made on the Romanian Education Market.

Suggested Citation

  • DRUICA Elena & CORNESCU Viorel & IONESCU Vladimir-Codrin, 2012. "Between Subjective And Objective In Making Decisions On The Romanian Higher Education Market," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 62(3), pages 24-35.
    • Handle: RePEc:blg:reveco:v:62.3:y:2012:i:3:p:24-35
    as

    Download full text from publisher

    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/RE%203-62-2012.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    adverse selection; subjective decision making; education market;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:blg:reveco:v:62.3:y:2012:i:3:p:24-35. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eduard Alexandru Stoica (email available below). General contact details of provider: https://edirc.repec.org/data/feulbro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.