Using transaction data from the Jakarta Stock Exchange, I find three pieces of evidence which indicate that domestic investors have an information advantage over foreign investors. First, foreign investors systematically buy at higher and sell at lower intra-day prices than domestic investors....

This paper examines the strengths and weaknesses of the analogy of higher education to a for-profit industry where schools are seen as firms and students as customers.

Misurderstanding its economic structure will make it more difficult to predict the effects of changes that are sweeping higher education : increasing price competition, the weakening of tenure, taxpayer revolts, new technologies, the reduction in research support, etc. This paper follows...