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The Sensitivity of Capital Use to Price in Higher Education

Author

Listed:
  • Malcolm Getz

    (Department of Economics, Vanderbilt University, Nashville, TN 37235-1819, USA; Tel.: +1-615-322-3425; Fax: 1-615-343-8495)

  • John J. Siegfried

Abstract

We 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 but do reflect differences in institutional wealth. At public comprehensive universities and two-year colleges the evidence suggests that students enjoy more space per student where building costs are lower.

Suggested Citation

  • Malcolm Getz & John J. Siegfried, 2004. "The Sensitivity of Capital Use to Price in Higher Education," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 24(4), pages 379-391, June.
    • Handle: RePEc:kap:revind:v:24:y:2004:i:4:p:379-391
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    Cited by:

    1. Tsu‐Tan Fu & Cliff J. Huang & Flora F. Tien, 2008. "University Cost Structure In Taiwan," Contemporary Economic Policy, Western Economic Association International, vol. 26(4), pages 651-662, October.
    2. Eiji Yamamura, 2015. "Is university sports an advertisement in the higher education market? An analysis of the Hakone long-distance relay road race in Japan," ISER Discussion Paper 0922, Institute of Social and Economic Research, The University of Osaka.

    More about this item

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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