Excellence pays

Work Study

ISSN: 0043-8022

Article publication date: 1 July 2000

Citation

(2000), "Excellence pays", Work Study, Vol. 49 No. 4. https://doi.org/10.1108/ws.2000.07949daa.002

Publisher

:

Emerald Group Publishing Limited

Copyright © 2000, MCB UP Limited


Excellence pays

I read recently that fees and accommodation costs at Yale University are about $34,000 per year. Yet, about 13,000 applicants compete for the 1,350 places. Quality (or at least status, which presumably in the field of education stems from perceived quality) carries quite a premium - and at the top end of any product/service the rise in price of marginal improvements becomes almost exponential. Is a Mercedes car that costs £80,000 four times better than a high-end saloon car that costs £20,000? Presumably the buyers must think so.