(The Evolution Of) Post-Secondary Education: A Computational Model And Experiments
Source: Charles University
The authors propose a computational model to study (the evolution of) post-secondary education. "Consumers" who differ in quality shop around for desirable colleges or universities. "Firms" that differ in quality signal the availability of their services to desirable students. As long as they have capacity, colleges and universities make offers to students, who apply and qualify. Their model generalizes an earlier literature (namely, Vriend 1995) in an important dimension: quality, the model confirms key predictions of an analytical model that they also supply, and the model allows them to systematically explore the emergence of macro regularities and the consequences of various strategies that sellers might try.