Educational as a Positional Good: The Role of Vouchers

Zhiqi Chen and E.G. West
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E.G. West: Newcastle University Business School, http://egwestcentre.com/2000/07/24/education-and-the-state-by-e-g-west/egwest/

Carleton Industrial Organization Research Unit (CIORU) from Carleton University, Department of Economics

Abstract: People's satisfaction from some goods and services depends on their relative as distinct from their absolute position as consumers. Such items are called "positional goods", and a restriction of their supply in the situation of general income growth is conducive to expenditure escalation as in an arms race. If education is a positional good in this sense, arrangements are needed that will best prevent such an outcome.

Keywords: EDUCATION; CONSUMPTION (search for similar items in EconPapers)
JEL-codes: E21 I22 (search for similar items in EconPapers)
Pages: 41 pages
Date: 1997-02
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