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Cost Escalation in Elite Higher Education: Lessions from Four Institutions


  • Clotfelter, Charles T.


This paper summarizes the principal empirical findings and major arguments contained in Buying the Best: Cost Escalation in Elite Higher Education (Princeton University Press, 1996). Using detailed unpublished data on expenditures, faculty teaching, class size, and other items, the study focuses on expenditure patterns in three universities - Duke, Harvard, and Chicago - and one college, Carleton, over a 15-year period.

Suggested Citation

  • Clotfelter, Charles T., 1997. "Cost Escalation in Elite Higher Education: Lessions from Four Institutions," Working Papers 97-16, Duke University, Department of Economics.
  • Handle: RePEc:duk:dukeec:97-16

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    References listed on IDEAS

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    8. Smith, A A, Jr, 1993. "Estimating Nonlinear Time-Series Models Using Simulated Vector Autoregressions," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(S), pages 63-84, Suppl. De.
    9. Gallant, A. Ronald & Tauchen, George, 1997. "Estimation Of Continuous-Time Models For Stock Returns And Interest Rates," Macroeconomic Dynamics, Cambridge University Press, vol. 1(01), pages 135-168, January.
    10. Gallant, A. Ronald & Hsieh, David & Tauchen, George, 1997. "Estimation of stochastic volatility models with diagnostics," Journal of Econometrics, Elsevier, vol. 81(1), pages 159-192, November.
    11. Laroque, Guy & Salanie, Bernard, 1989. "Estimation of Multi-market Fix-Price Models: An Application of Pseudo Maximum Likelihood Methods," Econometrica, Econometric Society, vol. 57(4), pages 831-860, July.
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