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The College Cost Disease: Higher Cost and Lower Quality by Robert E. Martin
Centre College

Vita

V I T A

 

 

NAME:  Robert E. Martin                                         DATE:  May 2013

 

CURRENT POSITION

Emeritus Professor of Economics

Centre College

Danville, Kentucky 40422

E-mail: bmart@centre.edu

 

ACADEMIC EXPERIENCE

 

Ewing T. Boles Professor of Economics, Centre College, Danville, Kentucky, August 1996 to August 2008.

Visiting Professor, Department of Economics, Louisiana State University, Baton Rouge, Academic year 02/03.

Professor, Department of Economics, The University of Texas at Arlington, Arlington, Texas, July 1994 to August 1996.

Professor and Interim Dean, College of Business, The University of Texas at Arlington, Arlington, Texas, January 1993 to June 1994.

Professor and Chair, Department of Economics, The University of Texas at Arlington, June 1992 to January 1993.

Professor, Department of Economics, Louisiana State University, Baton Rouge, August 1979 to June 1992.

 

PROFESSIONAL JOURNALS AND REPORTS

 

 “College Costs Too Much Because Faculty Lack Power,” (August 5, 2012), Chronicle of Higher Education.

“The ‘Post-Partisan’ University,” (August 5, 2011), Inside Higher Ed.

 

“How College Pricing Undermines Financial Aid.” With Andrew Gillen, The Center for College Affordability and Productivity, March 2011.

 

“Can We Measure the Value of College Teaching?” with Andrew Gillen, (February 7, 2011) Minding the Campus.

“’Holy Grail’ of Reform,” with Andrew Gillen, (January 28, 2011), Inside Higher Ed.

 

“The Revenue to Cost Spiral in Higher Education.”  The Pope Center, July 2009.

 

“Why Tuition Costs are Rising so Quickly.” Challenge, July/August 2002, 88-108.

 

“Enrollment Management as a Portfolio Investment Decision,” College and University, Summer 2000, 25-29.

 

“College is Cheaper than in the Mid 1990’s? No Way,” with Andrew Gillen, Minding the Campus, November 22, 2010.

 

“Commercialization is not the Problem,” Inside Higher Ed, November 19, 2010.

 

“Why Does College Cost so Much,” The John William Pope Center, November 10, 2010.

 

“The Dark Side of Selective Admissions,” The John William Pope Center, October 10, 2010.

 

“Breaking the Cost Spiral,” with Andrew Gillen. Inside Higher Ed, August 7, 2009.

 

“Information Technology for the New Liberal Arts College:  A Window of Opportunity,” with Samuel B. Fee, EDUCAUSE Quarterly, 1, 2002.

 

“Prospecting Among the Inquiries,” with Charles Hokayem, John Perry, and Jed Leaf, Business Officer, NACUBO, January 2002.

 

“The Vicious Spiral of Tuition Discounting,” Trusteeship, AGB, May/June 2001, 34-35.

 

“Dangerously Denying Deficits,” Trusteeship, AGB, January/February 2001, 20-23.

 

“Planning with Care,” Business Officer, NACUBO, October 1999.

 

REFERRED PUBLICATIONS

 

“Tuition Discounting Without Tears.”  Economics of Education Review, 23, 2004, 177-189.

 

“Pricing and Enrollment Planning.”  Planning for Higher Education, June/August 2003, 29-37.

 

“Tuition Discounting:  Theory and Evidence,” Economics of Education Review, 21(2), April 2002.

 

“Partnerships, Intra-firm Competition and Quality Choice:  Applications to the Medical Profession,” Review of Industrial Organization, September 2000, 17(2), 193-208, with D. Bradford.

 

“Loan Performance and Race.”  Economic Inquiry, January 2000, 38(1), 136-150, with R. Carter Hill.

 

“Revisiting Long Run Industry Supply.”  Eastern Economic Journal, 1998, 24(2), 207-215.

 

“The Market for Franchise Opportunities.”  Bulletin of Economic Research, 1996, 48(1), 65-82.

 

“Office Triage and the Physician’s Supply Curve.”  Empirical Economics, 1995, 20(2), 303-325, with D. Bradford.

 

“Supplier Induced Demand and Quality Competition:  An Empirical Investigation.”  Eastern Economic Journal, Fall 1995, 21(4), 491-503, with D.Bradford.

 

“Franchising, Liquidity Constraints and Entry.”  Applied Economics, 1993, with R.T. Justis, 1269-77.

 

“Points, Risk and Competition in the Mortgage Market.”  Southern Economic Journal, January 1992, with David J. Smyth, 779-89.

 

“Public Inputs in Agriculture.”  Southern Economic Journal, July 1991, with T.P. Zacharias and M.D. Lange,129-43.

 

“Adverse Selection and Moral Hazard Effects in the Mortgage Market:  An Empirical Analysis.” Southern Economic Journal, April 1991, with David J. Smyth, 1071-84.

 

“Profit Sharing, Uncertainty and the Enterprise Contract.”  Annals of Public and Cooperative Economics, January-March 1991, 81-101.

 

“The Endowment Funding of Public Inputs in a Socialist Economy.”  Advances in the Economic Analysis of Participatory and Labor Managed Firms, JAI Press, 4, 1991, 115-24.

 

“Competitive Firm and Resource Allocation Under Uncertain Capital Service.” Southern Economic Journal, July 1990, with Eden S.H. Yu, 208-20.

 

“Franchising and Risk Management.”  American Economic Review, 78, December 1988, 954-68.

 

“Long-Run Supply in Competitive Labor-Managed Industries.”  Advances in the Economic Analysis of Participatory and Labor-Managed Firms, JAI Press, 2, 1987, 13-28.

 

“Quality Choice Under Labor-Management.”  Journal of Comparative Economics, 10, December 1986, 400-13.

 

“Market Structure and Pollution Control Under Imperfect Surveillance.”  Journal of Industrial Economics, 35, December 1986, with S.C. Farber, 147-60.

 

“Externality Regulation and the Monopoly Firm.”  Journal of Public Economics, 29, April 1986, 347-62.

 

“On Judging Quality by Price:  Price Dependent Expectations, Not Price Dependent Preferences.”  Southern Economic Journal, 52, January 1986, 665-672.

 

“Random Capital Service in Labor-Managed and Profit-Maximizing Firms.” Journal of Comparative Economics,  9, September 1985, 296-313.

 

“Stochastic Input Supply:  Theory and Evidence.”  Applied Economics, 16, 1984, 343-54.

 

“Petrol Supplies and Consumer Expectations.”  Energy Economics, January 1983, 16-26.

 

“Monopoly Power and the Recycling of Raw Materials.”  Journal of  Industrial Economics, 30, June 1982, 405-19.

 

“Soviet Enterprise Behavior Under Uncertainty.”  Journal of Comparative Economics, 6, March 1982, with S.J. Linz, 24-36.

 

“Stochastic Input Deliveries.” Economic Inquiry, 19, October 1981, 640-49.

 

BOOKS

 

    Cost Control, College Access, and Competition in Higher Education.  Edward Elgar, Ltd: 2005.

 

The College Cost Disease: Higher Cost and Lower Quality. Edward Elgar, Ltd: May 2011.

 

BOOK CHAPTERS

 

“Higher Education Governance as a Barrier to Cost Containment,” American Enterprise Institute, forthcoming 2013.

 

“Economic Context of the New Reality,” in The New Organizational Reality:  Downsizing, Restructuring, Revitalization, (Washington, D.C.: American Psychological Association, 1997), M.F. Gowing, J.R. Kraft, and J.C. Quick, eds.

 

“Commodity Excise Taxes in Louisiana.”  Louisiana’s Fiscal Alternatives, LSU Press, 1988, 268-86.

 

TEACHING EXPERIENCE

            Graduate (PhD) Courses

The Economics of Information and Uncertainty

Microeconomic Theory

Advanced Microeconomic Theory

Mathematical Economics

Econometrics

            Undergraduate Courses

Corporate Finance

Econometrics

Empirical Methods in Economics and Finance – a data-mining course that develops the student’s skills in large data base management, Excel, and SAS programming for applied research problems.

Investments and Asset Valuation

Intermediate Micro

Intermediate Macro

Senior Seminar

Mathematical Methods

 

PRESENTED PAPERS

 

“Stochastic Input Deliveries,” Invited Working Paper Series, Louisiana State University , December 1979.

“Manufacturing Orders and Stochastic Input Supply with Rational Expectations,” SEA Meetings, November 1980.

“Pollution Control and Increased Rivalry,” WEA Meetings, July 1983.

“Externality Regulation and the Monopoly Firm,” Working Paper Series, Louisiana State University, October 1985.

“Does Rate Base Valuation Matter?” SSSA Meetings, March 1986.

“Market Structure and Pollution Control Under Imperfect Surveillance,” Working Paper Series, Louisiana State University, March 1986.

“The Market for Franchise Opportunities,” SEA Meetings, November 1988.

“Adverse Selection and Moral Hazard Effects in the Mortgage Market:  An Empirical Analysis,”  AEA-AREUEA Meetings, December 1989.

“Public Inputs in Agriculture,” Working Paper Series, Louisiana State University, 1990.

“Points, Risk and Structure in the Mortgage Market,” SEA Meetings, November 1990.

“Office Triage and the Physician’s Supply Curve,” Invited Working Paper Series, Oklahoma State University, January 1993.

“Office Triage and the Physician’s Supply Curve,” Working Paper Series, University of Texas at Arlington, October 1993.

“Partnerships. Intra-firm Competition and Quality Choice:  Applications to the Medical Profession,” Working Paper Series, University of Texas at Arlington, November 1994.

“Optimal Force PlacePolicies” Invited Working Paper Series, The University of New Hampshire, March 1995.

“Partnerships, Intra-firm Competition and Quality Choice:  Applications to the Medical Profession” Invited Working Paper Series, Arizona State University, October 1995.

“An Economic Interpretation of Corporate ‘Down-sizing’ and ‘Out-sourcing’” Invited Working Paper Series, Centre College, January 1996.

“An Economic Theory of Referrals:  Applications to the Medical Profession”  Invited Working Paper Series, Oklahoma State University, March 1996.

“Loan Performance and Race” WEA Meetings, Seattle, WA., July 1997.

“Loan Performance and Race” Microeconomics Workshop Series, The University of Kentucky, March 1998.

“The Search for Economic Security” Kentucky Economic Association,Lexington,Kentucky, October 1998.

“Enrollment Growth and Subsidies: Financial Stress in Higher Education” Southern Economic Association Meetings,New Orleans, November 1999.

“Reputation and Referral,” Invited Working Paper Series, The University of Central Florida, February 2000.

“An EnterpriseModel for Higher Education,” Midwest Economic Association Meetings,Chicago, March 2002.

“Optimal Pricing and the LiberalArtsCollege,”  WEA Meetings,Seattle,WA, July 2002.

“Pricing and Enrollment Planning,” Chief Academic Officers meetings, Council of Independent Colleges, Santa Fe, NM, November 2002.

“The Revenue-to-cost Spiral in Higher Education,” The Cato Institute, Washington, DC, July 2009.

“The Revenue-to-cost Spiral in Higher Education,” American Legislative Exchange Council, San Antonio, Texas, September 2009.

“Taking Control of Spiraling Higher Education Costs,” The Cato Institute, Washington, DC, October 2009.

“The College Cost Disease,” LSU, October 2011.

“Measuring College Affordability,” LSU, October 2011.

“Higher Education Governance as a Barrier to Cost Containment,” American Enterprise Institute, August 2012.

“H R Bowen’s Rule” National Academies’ GUIRR, October 2012.

“Measuring Baumol and Bowen Effects in Public Research Universities,” University of California – Irvine, January 2013.

“Measuring Baumol and Bowen Effects in Public Research Universities,” Portland State University, March 2013.

 

REFEREE

 

American Economic Review                           Journal of Macroeconomics

   Bulletin of Economic Research                       Journal of Political Economy

Economic Inquiry                                             National Science Foundation

International Economic Review                     Quarterly Journal of Bus. & Econ.  

   Journal of Comparative Economics               Social Science Quarterly

   Journal of Economics                                      Southern Economic Journal

   Journal of Industrial Economics                    The Economic Journal

   Applied Financial Economics                           Real Estate Economics

Int. J. of Industrial Organization                    Contemporary Economic Policy

   Education Economics                                     Economics of Education Review                                               

 

EDUCATION

Ph.D.          Economics      SouthernMethodistUniversity

M.A.           Economics      SouthernMethodistUniversity

M.A.           Economics     TexasChristianUniversity

B.A.            Economics     AustinCollege

 

NON-ACADEMIC PROFESSIONAL EXPERIENCE

Research Associate

Mc Kinsey & Company

Conducted diversification and divestiture studies for major NYSE clients in energy and heavy equipment manufacturing.

 

   Vice President of Corporate Development and Financial Planning

Anta Corporation

Responsible for extensive mergers/acquisitions program, capital budgeting, operational budgeting and general operations research.  Directed professional staff in the screening of over 1500 acquisition candidates, of which approximately 100 were subjected to detailed financial analysis, 25 were subjected to industry studies and plant visits and two firms were acquired. Following the acquisitions it was my responsibility to be the liaison officer with the acquired firm during the transition.

 

   Commercial Development Manager

Ensearch Corporation

Conducted diversification and divestiture studies in energy, chemicals, and real estate.  Wrote speeches for the senior financial officer and made presentations on basic economic conditions.

 

DISSERTATION

“Random Production:  Stochastic Input Deliveries and Machine Failure”

FIELDS OF SPECIALIZATION

Microeconomic Theory

Economics of Information and Uncertainty

Econometrics


 
Cover art subject to change. All content © 2010 Robert E. Martin. All rights reserved.