Quality Adjusted Price Indexes for Four Year Colleges

 
9781288632404: Quality Adjusted Price Indexes for Four Year Colleges

Since the earlier 1980's the "sticker price" of a college education in the United States has, according to estimates from the Consumer Price Index (CPI), risen significantly faster than the overall rate of inflation. For the CPI, the government collects data on the "sticker price" of college (tuition and fees) without adjusting for scholarships given or other discounts. Further, no adjustments are made for changes in the quality or characteristics of the services provided, such as attributes of the faculty, the course offerings, or the facilities. Thus, the estimated price indices reflect changes in quality and characteristics of college as well as changes in prices. In this paper, we develop and explore the construction of a quality-adjusted price index for US colleges, based on the estimation of a hedonic model of the price of college. Our analysis indicates that estimating price indexes using hedonic methods is both feasible and useful. Four particular recommendations emerge from this research. First, the price of college should be measured as the 'net' (tuition and fees net of financial aid) rather than the 'sticker' price for computing a consumer price index. Price indexes computed based upon tuition plus fees net of financial aid indicate significantly lower price rises than the price indexes computed based only upon tuition plus fees. Second, our results indicate that the 'brand' effect of individual colleges is important, so that price indexes should be computed controlling for the college-fixed effect. Third, it is important to include the attributes of colleges in constructing the price index in order to control for changes in the quality of college. And fourth, colleges that have graduate schools demonstrate different pricing than colleges that do not. While the conceptual framework for implementing a quality-adjusted price index for higher education is straightforward, practical implementation with currently available data presents empirical challenges

"synopsis" may belong to another edition of this title.

Buy New View Book
List Price: US$ 15.75
US$ 15.59

Convert Currency

Shipping: FREE
From United Kingdom to U.S.A.

Destination, Rates & Speeds

Add to Basket

Top Search Results from the AbeBooks Marketplace

1.

Amy Ellen Schwartz, Benjamin P Scafidi
Published by Bibliogov, United States (2013)
ISBN 10: 1288632401 ISBN 13: 9781288632404
New Paperback Quantity Available: 10
Print on Demand
Seller:
The Book Depository US
(London, United Kingdom)
Rating
[?]

Book Description Bibliogov, United States, 2013. Paperback. Book Condition: New. Language: English . Brand New Book ***** Print on Demand *****. Since the earlier 1980 s the sticker price of a college education in the United States has, according to estimates from the Consumer Price Index (CPI), risen significantly faster than the overall rate of inflation. For the CPI, the government collects data on the sticker price of college (tuition and fees) without adjusting for scholarships given or other discounts. Further, no adjustments are made for changes in the quality or characteristics of the services provided, such as attributes of the faculty, the course offerings, or the facilities. Thus, the estimated price indices reflect changes in quality and characteristics of college as well as changes in prices. In this paper, we develop and explore the construction of a quality-adjusted price index for US colleges, based on the estimation of a hedonic model of the price of college. Our analysis indicates that estimating price indexes using hedonic methods is both feasible and useful. Four particular recommendations emerge from this research. First, the price of college should be measured as the net (tuition and fees net of financial aid) rather than the sticker price for computing a consumer price index. Price indexes computed based upon tuition plus fees net of financial aid indicate significantly lower price rises than the price indexes computed based only upon tuition plus fees. Second, our results indicate that the brand effect of individual colleges is important, so that price indexes should be computed controlling for the college-fixed effect. Third, it is important to include the attributes of colleges in constructing the price index in order to control for changes in the quality of college. And fourth, colleges that have graduate schools demonstrate different pricing than colleges that do not. While the conceptual framework for implementing a quality-adjusted price index for higher education is straightforward, practical implementation with currently available data presents empirical challenges. Bookseller Inventory # APC9781288632404

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 15.59
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

2.

Schwartz, Amy Ellen; Scafidi, Benjamin P.
ISBN 10: 1288632401 ISBN 13: 9781288632404
New Quantity Available: > 20
Print on Demand
Seller:
BWB
(Valley Stream, NY, U.S.A.)
Rating
[?]

Book Description Book Condition: New. This item is Print on Demand - Depending on your location, this item may ship from the US or UK. Bookseller Inventory # POD_9781288632404

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 15.60
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

3.

Amy Ellen Schwartz
Published by Bibliogov, United States (2013)
ISBN 10: 1288632401 ISBN 13: 9781288632404
New Paperback Quantity Available: 10
Print on Demand
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description Bibliogov, United States, 2013. Paperback. Book Condition: New. Language: English . Brand New Book ***** Print on Demand *****.Since the earlier 1980 s the sticker price of a college education in the United States has, according to estimates from the Consumer Price Index (CPI), risen significantly faster than the overall rate of inflation. For the CPI, the government collects data on the sticker price of college (tuition and fees) without adjusting for scholarships given or other discounts. Further, no adjustments are made for changes in the quality or characteristics of the services provided, such as attributes of the faculty, the course offerings, or the facilities. Thus, the estimated price indices reflect changes in quality and characteristics of college as well as changes in prices. In this paper, we develop and explore the construction of a quality-adjusted price index for US colleges, based on the estimation of a hedonic model of the price of college. Our analysis indicates that estimating price indexes using hedonic methods is both feasible and useful. Four particular recommendations emerge from this research. First, the price of college should be measured as the net (tuition and fees net of financial aid) rather than the sticker price for computing a consumer price index. Price indexes computed based upon tuition plus fees net of financial aid indicate significantly lower price rises than the price indexes computed based only upon tuition plus fees. Second, our results indicate that the brand effect of individual colleges is important, so that price indexes should be computed controlling for the college-fixed effect. Third, it is important to include the attributes of colleges in constructing the price index in order to control for changes in the quality of college. And fourth, colleges that have graduate schools demonstrate different pricing than colleges that do not. While the conceptual framework for implementing a quality-adjusted price index for higher education is straightforward, practical implementation with currently available data presents empirical challenges. Bookseller Inventory # APC9781288632404

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 16.43
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

4.

Amy Ellen Schwartz
Published by BiblioGov
ISBN 10: 1288632401 ISBN 13: 9781288632404
New Paperback Quantity Available: > 20
Print on Demand
Seller:
BuySomeBooks
(Las Vegas, NV, U.S.A.)
Rating
[?]

Book Description BiblioGov. Paperback. Book Condition: New. This item is printed on demand. Paperback. 34 pages. Dimensions: 9.7in. x 7.4in. x 0.1in.Since the earlier 1980s the sticker price of a college education in the United States has, according to estimates from the Consumer Price Index (CPI), risen significantly faster than the overall rate of inflation. For the CPI, the government collects data on the sticker price of college (tuition and fees) without adjusting for scholarships given or other discounts. Further, no adjustments are made for changes in the quality or characteristics of the services provided, such as attributes of the faculty, the course offerings, or the facilities. Thus, the estimated price indices reflect changes in quality and characteristics of college as well as changes in prices. In this paper, we develop and explore the construction of a quality-adjusted price index for US colleges, based on the estimation of a hedonic model of the price of college. Our analysis indicates that estimating price indexes using hedonic methods is both feasible and useful. Four particular recommendations emerge from this research. First, the price of college should be measured as the net (tuition and fees net of financial aid) rather than the sticker price for computing a consumer price index. Price indexes computed based upon tuition plus fees net of financial aid indicate significantly lower price rises than the price indexes computed based only upon tuition plus fees. Second, our results indicate that the brand effect of individual colleges is important, so that price indexes should be computed controlling for the college-fixed effect. Third, it is important to include the attributes of colleges in constructing the price index in order to control for changes in the quality of college. And fourth, colleges that have graduate schools demonstrate different pricing than colleges that do not. While the conceptual framework for implementing a quality-adjusted price index for higher education is straightforward, practical implementation with currently available data presents empirical challenges This item ships from La Vergne,TN. Paperback. Bookseller Inventory # 9781288632404

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 17.96
Convert Currency

Add to Basket

Shipping: US$ 3.95
Within U.S.A.
Destination, Rates & Speeds

5.

U.S. Bureau of Labor Statistics
Published by BiblioGov (2016)
ISBN 10: 1288632401 ISBN 13: 9781288632404
New Paperback Quantity Available: 1
Print on Demand
Seller:
Ria Christie Collections
(Uxbridge, United Kingdom)
Rating
[?]

Book Description BiblioGov, 2016. Paperback. Book Condition: New. PRINT ON DEMAND Book; New; Publication Year 2016; Not Signed; Fast Shipping from the UK. No. book. Bookseller Inventory # ria9781288632404_lsuk

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 17.50
Convert Currency

Add to Basket

Shipping: US$ 5.22
From United Kingdom to U.S.A.
Destination, Rates & Speeds