A model for the demand for higher education in the United States, 1919-64 [electronic resource] / Robert Campbell and Barry N. Siegel.
Statistical demand analysis, which emphasizes the influence of relative prices and real income upon the demand for a commodity, was used to develop a model of the demand for higher education. The study is based on the fact that college enrollment represents the purchase of both a producer and consum...
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| Format: | Electronic eBook |
| Language: | English |
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Distributed by ERIC Clearinghouse,
1966.
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| Summary: | Statistical demand analysis, which emphasizes the influence of relative prices and real income upon the demand for a commodity, was used to develop a model of the demand for higher education. The study is based on the fact that college enrollment represents the purchase of both a producer and consumer durable, and is an act of investment. Investment risks appear in two forms--(1) the risk of failure to complete the education, and (2) the risk that education, even though completed, will not yield the expected income return. Only those regarded as potential investors, graduate students and students enrolled in 2-year institutions are excluded from the study. From the analyses made, the principles that limit educational demand below the total of those eligible to enroll were deduced to be (1) those individuals whose expected rate of return over cost is zero, or below, will have a zero enrollment demand, and (2) enrollment demand is diminished by exclusion of those who must rely on loans to enroll. The model derived as a measure of demand was--the ratio of enrollees to eligibles for a given year is a function of the real disposable income per household and of the average real tuition in that year. (al) |
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| Item Description: | Contract Number: OEC-4-10-163. Educational level discussed: Higher Education. ERIC Document Number: ED011577. |
| Physical Description: | 35 p. |