Higher education has many of the attributes of a competitive industry. Many enterprises compete for inputs and sell similar outputs to a great variety of buyers. The competitive perspective has not been much used in the analysis of higher education. In this paper we find such a point of view...

This note demonstrates that random delivery of services of factors of production is a ubiquitous source of increasing returns to scale with otherwise constant returns technology. It is also shown that such economies must eventually be exhausted -- that returns to scale are asymptotically...