EITM: Collaborative Research on Equilibrium Models of Competition in the Market for Higher Education: Theory and Evidence

EITM：高等教育市场竞争均衡模型的合作研究：理论与证据

• 批准号: 0339010
• 负责人: Richard Romano
• 金额: $ 5.62万
• 依托单位: University of Florida
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 2004
• 资助国家: 美国
• 起止时间: 2004-07-01 至 2006-06-30
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=0339010&HistoricalAwards=false
• 关键词: EITM; Collaborative; Research; Equilibrium; Models

This project studies how colleges and universities use their admission and financial aid policies to compete for students. The research will yield better information about how colleges vary in instructional expenditures. It will also give new information about variation within and across colleges in family incomes, standardized test scores, and the racial composition of their student bodies. Theresearch will also characterize how financial aid varies with standardized test scores, family incomes,race/ethnicity, and other characteristics of students. The researchers will also evaluate how colleges, students of color, and white students value ethnic/racial diversity in choosing a college or making admissions decisions. The research approach entails theoretical analysis and parallel computational and empirical analysis.The research methods will be adopted to allow for informational asymmetries between colleges and their prospective students, asymmetries that have potentially important implications for admission and financial aid policies. This creates a challenging statistical problem that will require new techniques. Standard approaches used by other researchers to study other markets are not a good choice for analyzing the market for higher education for two reasons. First, product characteristics are endogenous because colleges choose how much to spend on teaching and also influence the composition of their student bodies. Second, because of financial aid prices for a given student type will differ across colleges but are only observed at the college attended. The research team will develop new statistical techniques to deal with these problems.The research will develops and estimates a general equilibrium model of higher education and uses the model to study public policy issues. The general equilibrium framework is particularly important for study of policy issues that may change the equilibrium financial aid and admission policies of all institutions of higher education. Among the key contributions of the research is endogenizing college qualities in a general equilibrium framework with asymmetric information. Because the college objective function that is modeled and tested differs from profit maximization, this research adds to the theoretical and empirical literatures on nonprofit institutions. The research also contributes to understanding of peer effects by elucidating the way in which peer effects affect college qualities, admissions decisions, and financial aid policies, and by developing empirical evidence about the extent to which observed admission and financial aid policies are consistent with the model's predictions. A further, related innovation in the research is study of the effects of diversity in a general equilibrium framework. Finally, this project is on the frontier of integrating theory, computation, and estimation. Key public policy elements of this research are study of the effects of federal financial aid policies and study of the role of publicly funded state universities. The research considers the effect of affirmative action policies on student body composition. The research also investigates the effect of federal financial aid policies on college access, taking account of the way in which federal aid policies and college competition lead to changes in aid provided from colleges' own resources. The research will contribute to understanding how state funding policies and admissions policies of public universities affect access and costs of college. The research thus has the promise to provide a significant advance in understanding and quantifying the effects of public policy on college access and college costs for different racial and socio-economic groups.

该项目研究高校如何利用其入学和经济援助政策来竞争学生。 该研究将提供有关大学在教学支出中的变化的更好信息。 它还将提供有关家庭收入，标准化考试成绩以及其学生团体种族组成的大学内部和整个大学的变化的新信息。 Theresearch还将表征经济援助如何随标准的考试成绩，家庭收入，种族/种族和其他学生的其他特征而变化。研究人员还将评估大学，有色学生和白人学生在选择大学或做出录取决策时如何重视种族/种族多样性。 研究方法需要理论分析以及平行的计算和经验分析。将采用研究方法，以允许大学及其潜在学生之间的信息不对称，这些不对称是对录取和经济援助政策可能具有重要意义的不对称。 这会产生一个具有挑战性的统计问题，需要新技术。 其他研究人员用来研究其他市场的标准方法并不是分析高等教育市场的好选择，原因有两个。 首先，产品特征是内源性的，因为大学选择在教学上花费多少并影响其学生的组成。 其次，由于特定学生类型的经济援助价格将在各学院不同，但仅在大学就读才观察到。 研究团队将开发新的统计技术来解决这些问题。研究将开发和估计高等教育的一般均衡模型，并使用该模型来研究公共政策问题。一般平衡框架对于研究可能改变所有高等教育机构的均衡财务援助和录取政策的政策问题尤为重要。该研究的主要贡献之一是在具有不对称信息的一般均衡框架中内生质量。由于对学院的目标函数进行建模和测试与利润最大化不同，因此这项研究增加了非营利机构的理论和经验文献。这项研究还通过阐明同伴效应影响大学质量，录取决策和经济援助政策的方式，以及通过关于观察到的录取和经济援助政策与模型的预测一致的程度，从而有助于理解同伴效应。此外，研究中相关的创新是研究多样性在一般均衡框架中的影响。最后，该项目位于整合理论，计算和估计的前沿。这项研究的关键公共政策要素是对联邦经济援助政策的影响以及对公共资助的州立大学作用的影响的研究。 该研究考虑了平权行动政策对学生人体组成的影响。 该研究还研究了联邦经济援助政策对大学访问的影响，考虑到联邦援助政策和大学竞争的方式导致大学自身资源提供的援助变化。这项研究将有助于了解公立大学的国家资助政策和录取政策如何影响大学的获得和成本。因此，这项研究有望在理解和量化公共政策对不同种族和社会经济群体的大学访问和大学成本的影响方面提供重大进步。