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The evaluation of welfare under alternative models of higher education finance

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  • G Johnes

Abstract

A model is developed which allows us to examine the welfare effects of alternative methods of financing access to higher education. Under an extreme specification of the social welfare function, it is shown that it does not matter whether higher education is financed privately or through the exchequer. Under a more general specification of the social welfare function, conditions may be derived under which (a) private finance is more welfare enhancing than public finance and (b) public finance is more welfare enhancing than private finance. Empirical estimates of the social welfare function are used to draw policy conclusions.

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  • G Johnes, 2001. "The evaluation of welfare under alternative models of higher education finance," Working Papers 539892, Lancaster University Management School, Economics Department.
  • Handle: RePEc:lan:wpaper:539892
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    File URL: http://www.lancaster.ac.uk/media/lancaster-university/content-assets/documents/lums/economics/working-papers/EvaluationWelfare.pdf
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    References listed on IDEAS

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    5. Chapman, Bruce, 1997. "Conceptual Issues and the Australian Experience with Income Contingent Charges for Higher Education," Economic Journal, Royal Economic Society, vol. 107(442), pages 738-751, May.
    6. Sen, Amartya Kumar, 1970. "The Impossibility of a Paretian Liberal," Scholarly Articles 3612779, Harvard University Department of Economics.
    7. Sen, Amartya, 1970. "The Impossibility of a Paretian Liberal," Journal of Political Economy, University of Chicago Press, vol. 78(1), pages 152-157, Jan.-Feb..
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    Keywords

    Educational Finance;

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