Performance-based funding (PBF) for public colleges and universities is increasingly prevalent worldwide, as a part of a broader pattern of marketisation in public education. This study focused on developing an empirical view of how, and in what contexts, policy makers use the concepts of neoliberal economics to design and support PerformanceBased…

This paper argues that the rule-making function of institutions introduces an information distortion into markets--economic, political, and cultural--that changes the rational pattern of resource allocation. As markets expand, this distortion raises the price of individual talent and skill development in production. It leads to a public-private…