Submitted manuscript, 203 KB, PDF document
Research output: Working paper
Research output: Working paper
}
TY - UNPB
T1 - The evaluation of welfare under alternative models of higher education finance
AU - Johnes, G
PY - 2001
Y1 - 2001
N2 - 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.
AB - 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.
KW - Educational Finance
M3 - Working paper
T3 - Economics Working Paper Series
BT - The evaluation of welfare under alternative models of higher education finance
PB - The Department of Economics
CY - Lancaster University
ER -