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MODELING THE ALLOCATION OF GRADUATE STUDENT FINANCIAL AID
Author(s) -
Anderson Evan E.,
Shueh Chungting
Publication year - 1981
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1981.tb00076.x
Subject(s) - competition (biology) , randomness , graduate students , finance , higher education , resource allocation , economics , computer science , business , actuarial science , operations research , economic growth , management , sociology , engineering , mathematics , statistics , ecology , pedagogy , biology
Universities have always competed with one another for the relatively small number of highly qualified students interested in graduate education. This competition has been intensified recently by adverse demographic trends. This paper is concerned with the use of financial aid awards as a means of competition and with allocation of awards so that enrollments are maximized while satisfying academic standards and budget constraints. It also considers the randomness of actual aid disbursements and develops models of incremental aid allocation that increase enrollments but are within tolerance levels for budget overruns.