Publication detail

University System with Procedural Rationality of Agents

Author(s): doc. Ing. Tomáš Cahlík CSc.,
PhDr. Jana Marková ,
Type: IES Working Papers
Year: 2005
Number: 95
ISSN / ISBN:
Published in: IES WP 2005/95
Publishing place: Praha
Keywords: agent-based approach, financing in the educational sector, procedural rationality
JEL codes: C61, H52, I21, D0
Suggested Citation:
Grants: GACR 402/04/1214 (2004-2006) Microeconomics of University Education and Methods of Evaluation of Research Performance at Universities.
Abstract: The impact of different financing alternatives on dynamic model of the university system is analysed in this paper. Model is agent – based, the reason is that we analyze a system of heterogenous universities instead of a representative university. Heterogeneity of universities is not in strategies they follow but in basic parameters – for example their size. In the model we implicitly assume procedural rationality – either because of bounded rationality or shortage of relevant information. Each university in each period reacts according to simple rules on the difference between the number of applicants and its capacity. In simulation experiments we analyze the impact of three financing alternatives: only tuition fees, combination of tuition fees and government subsidies and only subsidies. Basic result is that the behaviour of models in different situations differs with the financing alternatives and it would be an oversimplification to generalize that some of the financing alternatives is always the best.
Downloadable: WP 2005_95_Cahlik, Markova

22

January

January 2021
MonTueWedThuFriSatSun
    123
45678910
11121314151617
1819202122

2324
25262728293031

Partners

Deloitte

Sponsors

CRIF
McKinsey
Patria Finance