Fields of Specialization

The Economics of Higher Education

Publications and Working Papers

Gordon Winston, “Patinkin, Perfect Competition and Unemployment Disequipbria,” (with D.C. Gogerty), Review of Economic Studies, April, 1964.

__________, “Taxes, Leisure and Public Goods,” Economica, February, 1965.

__________, “Income and the Aggregate Allocation of Effort,” American Economic Review, May, 1965.

__________, “Professor Nurkse and the Marketing Boards,” Pakistan Development Review, Winter, 1965-1966.

__________, “An International Comparison of Income and Hours of Work,” Review of Economics and Statistics, February, 1966.

__________, “A Note on the Use-Classification of Four Digit Industries or How to Call a Spade a Spade,” (with Arthur MacEwan), Pakistan Development Review, Winter, 1966-67.

__________, “Notes on the Concept of Import Substitution,” Pakistan Development Review, Spring, 1967; reprinted in Islam, Nurul, Studies on Commercial Policy and Economic Growth, 1970.

__________, “Consumer Goods or Capital Goods — Supply Consistency in Development Planning,” Pakistan Development Review, Autumn, 1967.

__________, “Overinvoicing, Underutilization and Distorted Industrial Growth,” Pakistan Development Review, Winter, 1970-71; reprinted in K. Griffin and A.R. Khan, Growth and Inequality in Pakistan (Macmillan; London: 1972) and in J. Bhagwati, Illegal Transactions in International Trade: Theory and Measurement (North Holland; 1974).

__________, “Capital Utilization in Economic Development”, The Economic Journal, March, 1971; reprinted in part in Development Digest, January, 1972 and Mercurio, May, 1972.

__________, “A Note on the Political Economy of Development Theory”, Bangladesh Economic Review, Winter, 1972.

__________, “Capital Utilization and Economic Development: A Reply,” The Economic Journal, March, 1974.

__________, “Capital Utilization, Investment and Employment: A Neoclassical Model of Optimal Shift Work,” Bangladesh Economic Review, April, 1974.

__________, “Investment and the Optimal Idleness of Capital,” (with Thomas McCoy), Review of Economic Studies, July, 1974.

__________, “Factor Substitution, Ex Ante and Ex Post,” Journal of Development Economics, September, 1974.

__________, “The Optimal Utilization of Capital Stock and the Level of Economic Development” (with Young Chin Kim), Economica, November, 1974.

__________, “The Theory of Capital Utilization and Idleness,” Journal of Economic Literature, December, 1974. Translated and reprinted in Goisis, Gianandrea, Efficienza Producttiva: Alcuni Contributi su Noti (e Meno Noti) Argomenti (Milani; CEDAM, 1994)

__________, ” Praca zmianowa, zatrudnienie i rozwoj gospodarczy,” (with Ghazi M. Farooq), Chapter 16 in Wplyw cyznnika ludzkiego na wzrost gospodarczy, Vol. 1 (Institute of Economic Production, University of Lodz; 1975).

__________, “Capital Utilization in Economic Development,” in Owen and Uhveling, eds. Selected Readings (Boulder; The Economics Institute: 1975).

__________, Industrial Capacity and Employment Promotion: Case studies of Sri Lanka, Nigeria, Morocco and an overall survey of other developing countries, (with N. Phan-Thuy, Roger R. Betancourt, Mieczyslaw Kabaj), (Farnborough, Hants; Gower Publishing Company, Limited: 1981).

__________, “Capacity: An Integrated Micro and Macro Analysis”, American Economic Review, February, 1977.

__________, “Shift Working, Employment and Economic Development: A Study of Industrial Workers in Pakistan” (with Ghazi M. Farooq), Economic Development and Cultural Change, January, 1978.

__________, “Utilization and the Productivity of Capital,” the National Conference on Productivity, Ibadan, Nigeria, January 22-29, 1978.

__________, “The Appeal of Inappropriate Technologies: Self-Inflicted Wages, Ethnic Pride and Corruption,” World Development, October, 1979.

__________, “On Measuring Factor Proportions in Industries with Different Seasonal and Shift Patterns or Did the Leontief Paradox Ever Exist?” The Economic Journal, December, 1979.

__________, “Addiction and Backsliding: A Theory of Compulsive Consumption,” Journal of Economic Behavior and Organization, December, 1980.

__________, “Shephard’s Dilemma: On the Applicability of Mathematical Duality Theory to Production,” Econometric Society Meetings, Washington, 1981.

__________, “The Value of Time,” American Economic Association Meetings, New York, 1982.

__________, “Productivity-Reducing Supply Side Policies,” Journal of Post-Keynesian Economics, Winter, 1982-83.

__________, The Timing of Economic Activities: Firms, Households and Markets in Time-Specific Analysis. Cambridge: Cambridge University Press, 1982. Chapter 1, “Economic Events in Time,” reprinted in Zamagni, Stefano and Elettra Agliardi, Time in Economic Theory, The International Library of Critical Writings in Economics, Mark Blaug, Series Editor, Cheltenham Glos: Edward Elgar Publishing Ltd. 2003.

__________, “Updating Economic Theory: The Employment Relationship,” Change, April, 1983.

__________, “The Economics of Academic Tenure: A Relational Perspective,” (with Michael McPherson), Journal of Economic Behavior and Organization, December, 1983. Reprinted in Breneman, David W., and Ted I. K. Youn, eds. Academic Labor Markets and Careers. The Stanford Series on Education and Public Policy. New York: The Falmer Press, 1988. Reprinted in Finkin, Matthew W. ed. The Case for Tenure. Ithaca: ILR Press, 1996.

__________, “The Utilization of Capital in Developing Countries: A Survey of Empirical Evidence,” UNIDO/IS.469, United Nations Industrial Development Organization, Vienna, May, 1984.

__________, “Time in Economics: Two Problems on the Low Road,” The Berkshire Review, 1985.

__________, “The Reasons for Being of Two Minds: A Comment on Schelling’s ‘Enforcing Rules on Oneself’,” Journal of Law Economics and Organization, Fall, 1985.

__________, “Leisure,” in Eatwell, John, Murray Milgate and Peter Newman, eds. The New Palgrave: A Dictionary of Economic Theory and Doctrine. London: The Macmillan Press Ltd, 1987.

__________, “Introduction” and “Three Problems with the Treatment of Time in Economics,” Chapters 1 and 3 in Winston, Gordon C. and Richard Teichgraeber, III, eds. The Boundaries of Economics, New York: Cambridge University Press, 1987. Chapter 3, reprinted in Zamagni, Stefano and Elettra Agliardi, Time in Economic Theory, The International Library of Critical Writings in Economics, Mark Blaug, Series Editor, Cheltenham Glos: Edward Elgar Publishing Ltd. 2003.

__________, “Robin Hood in the Forests of Academe,” The Chronicle of Higher Education, 1987.

__________, “Activities in Time: A New Approach to Work and Consumption,” Journal of Economic Behavior and Organization, 1987.

__________, “The Time-Shape of Transactions,” in Maital, Shlomo, ed. Applied Behavioral Economics. London: Wheatsheaf Books, 1988.

__________, “Imperfectly Rational Choice: Rationality as the Result of a Costly Activity,” Journal of Economic Behavior and Organization, 1989.

__________, “The Impact of Federal Student Aid on Institutions: Toward an Empirical Understanding” (with Michael S. McPherson and Morton Owen Schapiro) in Fenske, R. H., ed. Studying the Impact of Student Aid on Institutions. New Directions for Institutional Research, No. 62. San Francisco: Jossey-Bass, 1989.

__________, “Recent Trends in U.S. Higher Education Costs and Prices: The Role of Government Financing,” (with Michael S. McPherson and Morton Owen Schapiro), The American Economic Review, May, 1989.

__________, “Myopic Discounting: Empirical Evidence,” (with Richard G. Woodbury) in Handbook of Behavioral Economics, Volume 2B. Greenwich: JAI Press, Inc.; 1990

__________, “Price and Quality in U.S. Higher Education,” (with Michael S. McPherson) in Timpane, Michael, M. O’Keefe, and Arthur Hauptman, eds. Papers and Proceedings “Programs in Education for a Changing Society”, forthcoming.

__________, “The Necessary Revolution in Financial Accounting,” Planning for Higher Education, Summer, 1992. Reprinted in Massy, William F., ed. Resource Allocation in Higher Education, Ann Arbor: The University of Michigan Press; 1996.

__________, “Hostility, Maximization, and The Public Trust,” Change, July/August, 1992.

__________, “New Dangers in Old Traditions: The Reporting of Economic Performance in Colleges and Universities,” Change, January/February, 1993.

__________, “Why Are Capital Costs Ignored by Colleges and Universities and What Are the Prospects for Change?” in NACUBO Business Officer, June, 1993.

__________, Paying the Piper: Productivity, Incentives, and Financing in U. S. Higher Education, (with Michael S. McPherson and Morton Owen Schapiro), Ann Arbor: The University of Michigan Press, 1993.

__________, “Fiduciary Responsibility and the Depreciation of Fund Accounting,” Trusteeship, September/October, 1994.

__________, “The Decline in Undergraduate Teaching: Moral Failure or Market Pressures?” Change, September/October, 1994.

__________, “Physical Capital and Capital Service Costs in US Colleges and Universities: 1993,” (with Ethan G. Lewis), Eastern Economic Journal, Summer, 1997.

__________, “Why Can’t a College Be More Like A Firm?” Change September/October 1997 and Chapter 1 in Joel W. Meyerson, New Thinking on Higher Education: Creating a Context for Change, Bolton, MA: Anker Publishing Co., 1998.

__________, “College Cost: Subsidies, Intuition, and Policy,” in Straight Talk about College Costs and Prices: Report of the National Commission on the Cost of Higher Education, Phoenix: Oryx Press, 1998.

__________, “College Costs: Who Pays and Why It Matters So,” in King, Jacqueline E. (ed), Paying for College, Washington DC: American Council on Education/Oryx Press, 1998.

__________, “The Dismal Science of Higher Education,” Trusteeship, Vol. 6, No. 4 (July/August 1998).

__________, “Subsidies, Hierarchy, and Peers: the awkward economics of higher education,” Journal of Economic Perspectives, Winter, 1999. Reprinted in The Economics of Higher Education, Edward Elgar Publishers, Inc. 2003.

__________, “For-Profit Higher Education: Godzilla or Chicken Little?” Change, Vol. 31, No. 1 (January/February 1999).

__________, “Do Private Colleges Make Big Profits?” The Forum for the Future of Higher Education, September 1997.

__________, “Economic Research Now Shows that Higher Education Is Not Just Another Business,” The Chronicle of Higher Education, p. B6, March 27, 1998.

__________, “Where is Aggressive Price Competition Taking Higher Education?” (with David J. Zimmerman). Change, Vol. 32, No. 4 (July/August 2000).

__________, “A Guide to Measuring College Costs,” Chapter 3 in Middaugh, Michael F. (ed.), Analyzing Higher Education Costs: What Institutional Researchers Need to Know. Jossey-Bass/NDIR. 2000.

__________, “Students Educating Students: The Emerging Role of Peer Effects in Higher Education,” [with George R. Goethals and David J. Zimmerman], Forum Futures 1999 Papers, Forum Publishing, 1999.

__________, “When It’s Wrong to Grow,” Trusteeship, Vol. 10, No. 1, [January/February 2002].

__________, “Peer Effects in Higher Education,” [with David J. Zimmerman], a chapter in C. Hoxby, ed. College Decisions: How Students Actually Make Them and How They Could. Forthcoming. University of Chicago Press for the NBER.

__________, “Statement for the House Committee on Education and the Workforce,” The U.S. House of Representatives, October 2, 2002. Reprinted as “Part Church, Part Car Dealer,” in Connection, Vol. XVII, No. 4, Winter 2003.

__________, “Saving, Wealth, Performance and Revenues in US Colleges and Universities,” [with Jared C. Carbone], Review of Higher Education, (forthcoming).


DP-22 Winston, Gordon C, “Maintaining Collegiate Wealth: Global Accounts, Fund Accounting, and Rules of Thumb,” December 1993.

DP-23 Winston, Gordon C, “A Note on The Logic and Structure of Global Accounting: Tautologies to Accounts,” January 1994.

DP-28 Weber, Valerie and Gordon C. Winston, “The Economic Performance of Williams, Amherst, Swarthmore, and Wellesley 1988-9 to 1992-3: A Global Comparison,” September 1994.

DP-32 Winston, Gordon C. and Ivan C. Yen, “Costs, Prices, Subsidies and Aid in U.S. Higher Education,” July 1995.

DP-33 Winston, Gordon C., “Capital and Capital Service Costs in 2700 US Colleges and Universities,” December 1995.

DP-37 McPherson, Michael S., Morton O. Schapiro and Gordon C. Winston, “The Economic Analogy,” July 1996.

DP-41 Lewis, Ethan G. and Gordon C. Winston, “Subsidies, Costs, Tuition and Aid in US Higher Education: 1986-87 to 1993-94,” April 1997.

DP-47 Winston, Gordon C., Jared C. Carbone, and Ethan G. Lewis, “What’s Been Happening to Higher Education? Facts, Trends, and Data, 1986-87 to 1994-95,” March, 1998.

DP-54 Winston, Gordon C., “The Positional Arms Race in Higher Education,” April, 2000. [A version is forthcoming in Forum Futures 2000 Papers.]

DP-58 Winston, Gordon C., “Economic Stratification and Hierarchy Among U.S. Colleges and Universities,” November, 2000. [A chapter prepared for McPherson-Schapiro, Diversity and Stratification in American Higher Education, forthcoming.]

DP-62 Hill, Catharine B. and Gordon C. Winston, “Access: Net Prices, Affordability, and Equity at a Highly Selective College,” December 2001.

DP-63 Kirby, Kris N., Mariana Sentiesteban and Gordon C. Winston, “Impatience and Grades: Delay-Discount Rates Correlate Negatively with College GPA,”, May 2002.

DP-65 Winston, Gordon C., “Toward a Theory of Tuition: Prices, Peer Wages, and Competition in Higher Education,” January 2003.

DP-66 Hill, Catharine, Gordon C. Winston and Stephanie Boyd, “Affordability: Family Incomes and Net Prices at Highly Selective Private Colleges and Universities,” October, 2003.

Selected Work Experience

Director Williams Project on the Economics of Higher Education, 1995-2001

Provost Williams College, 1988 – 1990

Visiting Scholar Institute for International Economic Studies, University of Stockholm, 1979-80

Member Institute for Advanced Study, Princeton NJ, 1978 – 1979

Country Experience

Pakistan, Bangladesh and Nigeria