Notes on Distortions in the Market for Educational Services. [Report No.: P-5051

Autor/in	Olson, Lawrence S.
Institution	Rand Corp., Santa Monica, CA.
Titel	Notes on Distortions in the Market for Educational Services. [Report No.: P-5051
Quelle	(1973), (26 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Cost Effectiveness; Economic Factors; Economic Research; Education; Educational Demand; Educational Economics; Educational Finance; Educational Planning; Educational Research; Educational Supply; Elementary Education; Human Capital; School Support; School Taxes; Success + Suchen Sie Ihr Suchwort? Kosten-Nutzen-Analyse; Kosten-Nutzen-Denken; Ökonomischer Faktor; Wirtschaftsforschung; Bildung; Erziehung; Bildungsanforderung; Bildungsnachfrage; Bildungsökonomie; Bildungsfonds; Bildungsplanung; Bildungsforschung; Pädagogische Forschung; Bildungsangebot; Elementarunterricht; Humankapital; Schulförderverein; Erfolg
Abstract	The document analyzes economic factors that might cause the output of educational services to diverge from the theoretical optimum because of a divergence between marginal social valuation and marginal social cost. Education contains both investment and consumption aspects. The analysis shows that the only distortion resulting from uncertainty arises because information is a public good whose supply should be increased: there need be no distortion attributable to "capital market imperfections"; all else being equal, current tax laws encourage relatively too much educational investment in human capital. Additionally, the educational services market is in disequilibrium because the education boom of the 1960s left it with a large fixed investment in buildings and many tenured teachers; a mother's education importantly affects her children's future success, the father's less so, but the present value of this future intergenerational transfer is small. Tentative conclusions indicate an increase in social subsidy of education is justified and should be directed to grade schools. An 18-item bibliography is included. (Author)
Anmerkungen	Publications Department, Rand Corporation, 1700 Main, Santa Monica, California (Order Number P-5051, $1.00)
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2004/1/01