
Uncertainty and the Welfare Economics of Medical Care (1963) - antimuon
http://fermatslibrary.com/s/uncertainty-and-the-welfare-economics-of-medical-care
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caterama
> The special role of educational institutions in simultaneously sub- sidizing
> and rationing entry is common to all professions requiring advanced
> training.23 It is a striking and insufficiently remarked phe- nomenon that
> such an important part of resource allocation should be performed by
> nonprofit-oriented agencies.

I wonder if Arrow would understand today's higher education institutions as
remaining nonprofit oriented?

