Optimal design for study‐abroad scholarship: the effect of payback policy

摘要

This paper examines the optimal design for a study‐abroad scholarship. A student is awarded a fixed‐amount scholarship to participate in the program but will have to pay back the scholarship if his/her performance fails to meet a target level. When the program is highly productive, the scholarship is low and the target performance is high. The opposite case prevails if the disutility from studying is high. A higher program cost leads to a higher target performance and a cost sharing between the university and the students. When the uncertainty regarding performance evaluation in the program increases, the target performance decreases while the scholarship amount is higher.View full textDownload full textKeywordsstudy‐abroad scholarship, optimal payback policyRelated var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/09645290902796373