Tuition at PhD-Granting Institutions: A Supply and Demand Model.

This study attempts to build and estimate a model that explains the behavior of the supply of and demand for education at PhD-granting institutions in the US. The statistical analysis based on 1988–1989 data suggests that the quantity of students, cost of education, average SAT score, class size, percentage of faculty members with a PhD, graduation rate, ranking and the existence of a medical college explain variations in tuition at these institutions.

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