Comments on: Getting Schooled Research (on Financial Markets) Conducted by Other Means Fri, 21 Nov 2014 00:16:08 +0000 hourly 1 By: vladislav Fri, 11 Apr 2014 09:34:05 +0000 Andrew,

> Georgians once again outperform Russians in development of a modern society.

Wait, you are confusing Russia and Swaziland:

List of countries by GDP (PPP) per capita

44 Estonia 24,450
45 Lithuania 24,356
46 Russia 23,589
47 Poland 22,783
48 Hungary 22,635
49 Latvia 21,810

99 Ukraine 7,298

103 Bhutan 6,591
104 Armenia 6,544
108 Angola 6,006
109 Georgia 5,833
110 Mongolia 5,374
113 Swaziland 5,161

By: Mike Fri, 29 Oct 2010 01:40:30 +0000 One of the other bits of data lacking in the WSJ piece is that while they report on the rate of tuition increase a public universities over the past decade or two, they do not report on how much state support of public universities has been cut over that period. I suspect that, in many cases, the rate of tuition increase is proportional (in absolute value) to the decrease in state support.

By: Jack Tue, 26 Oct 2010 18:36:22 +0000 Understood, as a recent student I can attest to the flippant nature of faculty reviews too. Teaching to the test has bastardized this state’s education system already (TAKS is quite possibly the worst thing to happen to Texas’ public schools), I shudder at the thought of that being expanded to higher education.

If my tuition was increasing 10% yoy and my professor’s were getting across the board 10% raises, I would be happy with that. The free market dictates that the most talented professors will (all other things being equal) flock to the programs that compensate them best, but yes, this black hole since deregulation is intriguing.

By: The Professor Mon, 25 Oct 2010 21:58:36 +0000 Jack–I have no problems with giving students more information re faculty background. What would be a problem going forward is crack-brained incentive schemes. And the cost thing is clearly an issue. I can assure you that my salary, and that of most colleagues has increased far more slowly than tuition. It’s something of a puzzle as to where all the money goes.

By: Jack Mon, 25 Oct 2010 17:50:24 +0000 Speaking from a students perspective, the ability to research professor’s academic and professional history definitely aided my course decisions. Granted LinkedIn helped more than anything the state put out there (not to mention this blog).

Take the MBA market in Houston. UH is ~$30K, HBU is ~$40, Tulane is ~$70, Rice is ~$80, and UT is ~$90. It’s kind of shocking that a public program is the most expensive (and one is the least expensive). All of these program’s have excellent faculty, but by and large, is UT’s 3X better than UH’s? Not a chance. Even if you could measure the ‘quality’ of professors, there is still no justification for runaway education costs (regardless of whether or not MBAs are thought of as ‘profit centers’ for their respective schools).

By: Could be special pleading on higher education « Knowledge Problem Mon, 25 Oct 2010 13:25:12 +0000 [...] that taxpayers are getting their money’s worth from state universities.  Acknowledging that his comments “could be taken as special pleading,” a blogger who is also a Texas state employee providing university students with advanced [...]

By: Troy Camplin Mon, 25 Oct 2010 06:23:50 +0000 A spontaneous order for education? Sounds great to me. Decentralized free markets work best in economics, so why not for education?

By: anonymous Sun, 24 Oct 2010 21:42:34 +0000 TYPO: Milgrom not Tirole

By: Surya Sun, 24 Oct 2010 20:12:10 +0000 A similar controversy is raging in high school education…esp. wrt Michelle Rhee’s DC reforms. The teacher’s union is broadly in support of performance pay – but the crucial question for them is how exactly “performance” will be measured. Rhee’s solution was to simply use test score results. The union argues this will simply distort educational quality and make teachers grade monkeys……
On a related note, I believe a lot of inefficiency in higher education exists due to the presence of an extraordinary number of “administrative” jobs which are better paid but involve nothing more than random paper pushing.

By: Earning My Keep…. « Organizations and Markets Sun, 24 Oct 2010 19:03:31 +0000 [...] Go read Craig Pirrong’s post on the WSJ article at Streetwise Professor.  That’s an [...]