Perfect price discrimination. Colleges at the top are a near monopoly - Harvard is a good substitute for Yale, but very few people can be in position to buy ei

Perfect price discrimination. Colleges at the top are a near monopoly - Harvard is a good substitute for Yale, but very few people can be in position to buy either. One level down, the colleges price it using yield management strategies that would make airlines blush. Apart from reforming federal student loans, ensuring that at least 75% of students pay the same price would stop some of the crazy pricing strategies