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College Cost and Time to Complete a Degree: Evidence from Tuition Discontinuities

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Author Info
Pietro Garibaldi
Francesco Giavazzi
Andrea Ichino
Enrico Rettore

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Abstract

Many students enrolled in academic programs around the world take longer to obtain a degree than the normal completion time while college tuition is typically constant during the years of enrollment. In particular, it does not increase when a student remains in a program beyond the normal completion time. Using a Regression Discontinuity Design on data from Bocconi University in Italy, this paper shows that an increase of 1,000 euro in the continuation tuition reduces the probability of late graduation by at least 6.1 percentage points with respect to a benchmark average probability of 80%. We conclude suggesting that an increase in continuation tuition is efficient when effort is suboptimally supplied, for instance in the presence of public subsidies to education, congestion externalities and/or peer effects.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 12863.

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Date of creation: Jan 2007
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Handle: RePEc:nbr:nberwo:12863

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C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
I2 - Health, Education, and Welfare - - Education

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  2. Joshua Angrist & Daniel Lang & Philip Oreopoulos, 2007. "Incentives and Services for College Achievement: Evidence from a Randomized Trial," IZA Discussion Papers 3134, Institute for the Study of Labor (IZA). [Downloadable!]
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  3. Esteban Jaimovich, 2008. "Adverse Selection and Entrepreneurship in a Model of Development," Carlo Alberto Notebooks 78, Collegio Carlo Alberto. [Downloadable!]
  4. Jason M. Lindo & Nicholas J. Sanders & Philip Oreopoulos, 2008. "Ability, Gender, and Performance Standards: Evidence from Academic Probation," NBER Working Papers 14261, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Giacomo De Giorgi & Michele Pellizzari & Silvia Redaelli, 2007. "Be as Careful of the Books You Read as of the Company You Keep: Evidence on Peer Effects in Educational Choices," IZA Discussion Papers 2833, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Paolo Ghirardato & Fabio Maccheroni & Massimo Marinacci, 2007. "Revealed Ambiguity and Its Consequences: Updating," Carlo Alberto Notebooks 44, Collegio Carlo Alberto. [Downloadable!]
  8. Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Luigi Montrucchio, 2008. "Complete Monotone Quasiconcave Duality," Carlo Alberto Notebooks 80, Collegio Carlo Alberto. [Downloadable!]
  9. Decio Coviello & Mario Mariniello, 2008. "Does Publicity Affect Competition? Evidence from Discontinuities in Public Procurement Auctions," CSEF Working Papers 189, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
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  10. Ales Cerný & Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2008. "On the Computation of Optimal Monotone Mean-Variance Portfolios via Truncated Quadratic Utility," Carlo Alberto Notebooks 79, Collegio Carlo Alberto. [Downloadable!]
  11. Itzhak Gilboa & Fabio Maccheroni & Massimo Marinacci & David Schmeidler, 2008. "Objective and Subjective Rationality in a Multiple Prior Model," Carlo Alberto Notebooks 73, Collegio Carlo Alberto, revised 2008. [Downloadable!]
  12. Joshua Goodman, 2007. "Who merits financial aid? Massachusetts? Adams scholarship," Discussion Papers 0607-13, Columbia University, Department of Economics. [Downloadable!]
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  13. Russell Gerrard & Bjarne Højgaard & Elena Vigna, 2008. "Choosing the Optimal Annuitization Time Post Retirement," Carlo Alberto Notebooks 76, Collegio Carlo Alberto. [Downloadable!]
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