Abstract
Which U.S. institutions of higher education offer the best value to consumers? To answer this question, we evaluate U.S. institutions
relative to a data envelopment analysis (DEA) multi-factor frontier based on 2000–2001 data for 1,179 4-year institutions.
The resulting DEA “best buy” scores allow the ranking of institutions by a weighted sum of institutional characteristics per
dollar of average net price. The net price is calculated as tuition, fees, room, and board less per student financial aid.
Institutional characteristics include SAT score, athletic expenditures, instructional expenditures, value of buildings, dorm
capacity, and student body characteristics. The DEA scores indicate the distance of each institution from the “best buy” frontier
for the chosen characteristics, providing an objective means of ranking institutions as the best values in higher education.
relative to a data envelopment analysis (DEA) multi-factor frontier based on 2000–2001 data for 1,179 4-year institutions.
The resulting DEA “best buy” scores allow the ranking of institutions by a weighted sum of institutional characteristics per
dollar of average net price. The net price is calculated as tuition, fees, room, and board less per student financial aid.
Institutional characteristics include SAT score, athletic expenditures, instructional expenditures, value of buildings, dorm
capacity, and student body characteristics. The DEA scores indicate the distance of each institution from the “best buy” frontier
for the chosen characteristics, providing an objective means of ranking institutions as the best values in higher education.
- Content Type Journal Article
- Pages 1-28
- DOI 10.1007/s11162-012-9259-2
- Authors
- E. Anthon Eff, Department of Economics and Finance, Middle Tennessee State University, Murfreesboro, TN, USA
- Christopher C. Klein, Department of Economics and Finance, Middle Tennessee State University, Murfreesboro, TN, USA
- Reuben Kyle, Department of Economics and Finance, Middle Tennessee State University, Murfreesboro, TN, USA
- Journal Research in Higher Education
- Online ISSN 1573-188X
- Print ISSN 0361-0365