Considering Market-Based Instruments for Consumer Protection in Higher Education

Based on the economics of consumer protection and contributions from the economics of education, this article presents an analytical framework to deal with the problem of consumer protection in the higher education sector. It is demonstrated that there are not only governmental mechanisms (information provision, quality regulation) but also market-based mechanisms (seller signalling, private certification, private information intermediaries, student screening) to mitigate the informational asymmetry between buyers and sellers of educational services. This informational asymmetry, called students’ ex ante quality uncertainty, provides the central economic rationale for thinking about student protection, quality assurance and consumer information in the higher education marketplace. The basic argument of this paper is that governmental quality assurance is unnecessary in higher education if the market participants themselves, with the help of private third parties (i.e., certifiers and information intermediaries), are able to cope with market failure due to asymmetric information.     

Consumer Risk Preferences and Higher Education Enrollment Decisions

Although there are widespread concerns that consumers are making poor choices regarding higher education, the fact that human capital investments are risky is often overlooked in the national conversation. Therefore, this research investigates the effect of risk preferences on higher education enrollment decisions. A sample from the 1997 cohort of the National Longitudinal Survey of Youth (NLSY97 ) was analyzed, and the results indicate that consumer risk preferences have a significant effect on the likelihood of enrollment. Specifically, there was a robust, positive relationship between risk tolerance and the likelihood of enrollment even after controlling for time preferences and risk perceptions. Consistent with previous findings, ability, parental education, family net worth and income, and being female were positively associated with the likelihood of enrollment. The results suggest that risk preferences may be an important source of omitted variable bias in previous studies of higher education investment choices.     

Assessing the Validity of Consumer Ratings for Higher Education: Evidence from a New Survey

This analysis assesses the validity of using consumer surveys to measure the quality of colleges using new survey data from the Strada‐Gallup Education Consumer Survey. I develop an individual consumer rating based on responses to 14 items related to the quality of education and implement two validity tests: Do higher ratings predict higher welfare, and do they correspond to objective quality measures? I conclude that they do. Indeed, the mean ratings of at least 20 other alumni provide a better prediction of individual satisfaction than popular college rankings from media sources. Consumers rate their experiences higher after attending not‐for‐profit colleges that generate better economic opportunities, enroll students with higher test scores, employ well‐paid faculty, and graduate a higher percentage of students who eventually earn doctorates. I conclude that survey‐based consumer ratings of postsecondary institutions can provide valid and reliable quality comparisons.     

论新形势下的消费者教育

消费者教育,在市场经济条件下,以其在保护消费者权益方面的重要作用,为国际组织和世界各国消费者组织所重视。在我国,消费者教育已经有了一定基础,但发展还不平衡,声势、规模也不够大,今天,在全面建设小康社会的新形势下,要进一步推动这项工作,使之有一个全新的面貌和发展态势,还有若干问题需要加以探讨和澄清,为实践开辟道路并指导实践。本文拟从五个方面谈点粗浅看法和体会。一、“消费教育”还是“消费者教育”目前,人们习惯用的是“消费教育”的提法。究其渊源,始于中国消费者协会于1991年下发的“关于广泛开展消费教育的意见”。当时的…     

Forecasting Components of Consumption with Components of Consumer Sentiment

We present new evidence that existing, but long-ignored, measures of consumer sentiment can reduce errors in forecasting total consumption expenditures and its components. The component questions of the aggregate Index of Consumer Sentiment improve forecasts, not only of consumer expenditures on durables but also on non-durables and services. Empirical studies have historically focused on whether consumer sentiment improves one-quarterahead forecasts of consumer expenditures. In fact, we document that measures of consumer sentiment are especially predictive at the longer, four-quarter-ahead horizon. In addition, they typically contribute at least as much to one-quarter-ahead and four-quarter-ahead forecasts of consumption as do income and wealth variables. Out-ofsample forecasts for the 2000-2005 period further substantiate that measures of consumer sentiment can reduce consumption forecasting errors appreciably. JEL Classification C53,E21     

The Effects of Consumer Education on Consumer Search

This paper reports the results of an empirical investigation of the relationship between selected consumer and marketplace characteristics—focusing on participation in consumer education activities—and consumers’ prepurchase information search behavior. A need exists for further study of the counteractive effects that consumer education is likely to have with respect to preferences for search and to the efficiency with which consumers conduct search.     

Consumer Education and the Preschool Child

Children are consumers and subject to a number of factors which socialize them into this role. Consumer education is often cited as an important tool in directing this socialization process toward the desired result of developing efficient and knowledgeable consumers. But how early can consumer education begin in the school setting? Can the preschool child be taught basic marketplace concepts and sequences or is this consumer simply too young? What are the early building blocks of consumer education? Do some approaches to teaching the very young consumer work better than others? This study presents a conceptual framework and the results of an exploratory laboratory study which begin to answer these important questions.     

Consumer Research and Programs for the Elderly—The Forgotten Dimension

Older Americans are the most victimized and disadvantaged group in the marketplace, yet few consumer research, education, and action programs have focused on their needs and concerns. This study, by attempting to summarize existing knowledge of the consumer problems and needs of older persons, reveals the lack of reliable data and research. The study also suggests that inflation has a far worse impact upon the elderly than previously thought, affecting not only their retirement financial condition but also their psychological and social condition. The study concludes that traditional consumer education programs focusing only upon persons' poverty of means will be ineffective unless they include an additional focus on the poverty of meaning in the lives of older consumers.     

不能将消费者教育等同于消费教育--兼论消费教育的核心

目前关于消费教育的研究成果很多，对消费教育的定义、意义、目标、内容、途径等有关内容都进行了非常详尽的论述，但作者认为，主流观点中的所谓消费教育只能称之为狭义上的消费教育，或称之为消费者教育，而消费教育不能仅局限于消费者教育。     

从"非典"流行看消费者教育

一、引言面对“非典”肆虐的严峻现实,一个问题引起了人们的思考:什么原因使得SARS在全国范围内快速蔓延并影响整个社会的政治经济生活?原因肯定是多方面的,但缺乏成为“自觉的消费者”应具备的素质,包括大众公共卫生意识和良好的卫生习惯以及环保意识等,无疑起到了推波助澜的作用,甚至我们为之自豪的饮食文明也到了需要反省的时候。“非典”唤醒了一些人久已淡漠的公共卫生和环保意识,为了预防“非典”,越来越多的人开始反省并改正自己的不良卫生习惯,经常洗手、开窗通风、定期消毒、晾晒被褥已经成为公民的自觉行为。随地吐痰、乱扔垃圾…     

消费教育中的"消协":职能、问题与改进思路

在与厂商的竞争中,消费者处于弱势地位,而消费者弱势的集中表现是信息不足.因此,消费教育的核心任务,就是通过种种途径和方法,增加消费者的知识和信息,提高消费质量,增强消费者的维权能力,降低消费风险.作为正式组织的消费者协会(或委员会),承担着重要的职责,在消费教育中的地位不可替代.     

关于消费教育的几个问题

我们今天开消费教育研讨会很有意义。在这里,我提出几个问题和大家一起讨论,并向同志们请教。一、为什么要开这个会,它有什么意义?这是基于两个方面的原因:一方面,随着社会经济的发展,消费教育问题越来越重要;另一方面,我国目前消费教育还赶不上形势的发展,面临着严峻的挑战。消费教育为什么很重要呢?这是因为:第一,它体现社会主义市场经济的本质要求。市场经济是消费者主权经济。要使消费者真正成为主人,实现他应有的主权,就必须使其具有较高的维权意识和能力,具有较高的素质(政治思想素质、科学文化素质),这就必须加强消费教育。市场经济…     

谈谈我国新时期的消费教育

一、我国的消费教育应当进入一个新的时期 我国的消费教育从上世纪80年代中期至今已近20年,有很多的成就和经验.与时俱进,今天的消费教育已经进入也应当进入一个新的时期.了解新时期消费领域中的主要特征和矛盾,对于探讨下一步如何开展消费教育是有意义的.