Price substitutes: the case of entrance to Greek universities

Abstract

This note provides evidence that the equilibrium between supply and demand in higher education in Greece is determined by what is argued to be the substitute for the non-existing market prices: the academic departments’ entrance grades. This leads to the investigation of some implications of a policy change in Greek higher education.

Acknowledgement

I am indebted to George Psacharopoulos for his encouragement on this paper and this enduring support in my efforts.