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Zur Funktion von Studiengebühren angesichts von Informationsasymmetrien auf Humankapitalmärkten


Franck, E; Opitz, C (2001). Zur Funktion von Studiengebühren angesichts von Informationsasymmetrien auf Humankapitalmärkten. Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung (zfbf), 53(3):91-106.

Abstract

Institutions of Higher Education certify students' quality by issuing degrees and other credentials. Information asymmetries between the university and its clients, however, require valid signals of the universities' quality, too. A performance based university compensation scheme can be viewed as a bonding-mechanism. Tuition which is not contingent on the value added through Higher Education extenuates the mechanism's efficiency. We show that tuition nevertheless can create economic value, preventing an adverse selection of wealthy but less talented students and individuals who consume education rather than investing in future earnings. In addition, tuition increases the signaling content of some degrees. Individuals from groups more likely to consume education, like women for example, are able to signal their intention to engage in a lasting and demanding career. Thus, the allocation in some segments of the labor market can be improved.

Institutions of Higher Education certify students' quality by issuing degrees and other credentials. Information asymmetries between the university and its clients, however, require valid signals of the universities' quality, too. A performance based university compensation scheme can be viewed as a bonding-mechanism. Tuition which is not contingent on the value added through Higher Education extenuates the mechanism's efficiency. We show that tuition nevertheless can create economic value, preventing an adverse selection of wealthy but less talented students and individuals who consume education rather than investing in future earnings. In addition, tuition increases the signaling content of some degrees. Individuals from groups more likely to consume education, like women for example, are able to signal their intention to engage in a lasting and demanding career. Thus, the allocation in some segments of the labor market can be improved.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:German
Date:March 2001
Deposited On:29 Mar 2009 16:18
Last Modified:05 Apr 2016 12:24
Publisher:Verlagsgruppe Handelsblatt
ISSN:0341-2687
Official URL:http://www.wiso-net.de/webcgi?WID=13852-8860749-90528_6
Permanent URL: http://doi.org/10.5167/uzh-2792

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