For the past two to three decades, many private colleges and universities have derived enrollment and revenue benefits from ever-increasing listed tuition and institutional aid, in the absence of ever-increasing student demand. These benefits have led many institutions to set very high listed tuition prices and provide widespread institutional aid awards. As tuition levels and aid shares continue to rise, the benefits of this pricing strategy may decline relative to its costs. Institutions will face a choice regarding their pricing policies. Some will continue the status quo, further increasing listed tuition beyond students' willingness to pay, whereas others will buck the trend, opting instead to freeze or decrease listed tuition. This dissertation examines the landscape of tuition freezes and decreases among four-year private colleges and universities, the antecedents of the decision to freeze or decrease listed tuition, and the causal effect of a tuition decrease on first-time, full-time student enrollment and per-student net tuition revenue. I utilize institution-level data from the Integrated Postsecondary Education Data System (IPEDS) between 2001/02 and 2016/17. For Research Question 1, I conduct descriptive analysis to examine variation in the frequency, duration, and magnitude of tuition freezes and decreases. For Research Question 2, I develop a theoretical framework to explain the institutional characteristics and conditions related to the decision to freeze or decrease listed tuition. I empirically test the framework using logistic and multinomial logistic regression models. For Research Question 3, I develop a theoretical framework to explain the effect of a decrease in listed tuition o first-time, full-time enrollment and per-student net tuition revenue. I utilize the synthetic control method (SCM), a quantitative, case-study approach for the study of rare events, to estimate the causal effect of a tuition decrease at six different institutions. This study's analysis produces several important findings. First, the share of institutions that freeze or decrease listed tuition increased steadily from 3.4 percent in 2002/03 to 5.4 percent in 2016/17. This growth has been driven predominantly by low- and mid-selectivity institutions that freeze listed tuition. Second, I find that the decision to freeze or decrease listed tuition relates to several institutional characteristics and conditions. HBCU and religiously affiliated institutions are more likely to freeze listed tuition and institutions enrolling a large share of Pell-eligible students are more likely to freeze or decrease listed tuition. I also find institutions that experience a loss in total net tuition revenue are more likely to freeze or decrease listed tuition, and the likelihood of a freeze or decrease increases with the size of the loss. Third, I find substantial heterogeneity in the effects of a tuition decrease. Five of the six institutions in my analysis eventually experienced statistically significant gains in enrollment. Four institutions experienced some period of declining per-student net tuition revenue while the remaining two experienced very little change. Given the challenges many colleges and universities face due to their current pricing strategy and concerning demographic trends, the prevalence of tuition freezes and decreases may grow. The theoretical and empirical contributions in this dissertation, however, suggest that the price change is unlikely to serve as a panacea for all institutions nor is it likely to yield a simple, one-time fix to an institution's pricing and enrollment challenges. This dissertation concludes with implications for future pricing and directions for further research. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]