How can UCLouvain effectively address the challenge of asymmetric information in the evaluation of its education as a credence good?

Details

Supervisors

Belleflamme, Paul

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion, à finalité spécialisée

Abstract

Education can be considered as a credence good because it is challenging to assess the quality of education provided by universities, even after completing a course or a program. This is an industry/market where we find asymmetric information stemming from the lack of complete data about the quality of the services rendered, which poses a significant challenge for universities to evaluate their education offerings. This master thesis aims to explore how universities, with a specific focus on UCLouvain, can effectively address the challenge of information asymmetry in the evaluation of education as a credence good. The thesis further investigates how UCLouvain professors perceive the problem of information asymmetry and what measures they can undertake to mitigate its impact. Their insights and experiences offer valuable perspectives on the challenges faced in evaluating education as a credence good. A key problem with information asymmetry in Belgian universities, particularly in the evaluation of its education as a credence good, is that prospective students lack complete information about the quality of a program or course before enrolling in a program at a particular institution. By shedding light on the challenges faced by Belgian universities, particularly UCLouvain, in evaluating education as a credence good, this master thesis contributes to a better understanding of the complexities surrounding quality assessment. It proposes practical strategies, such as enhancing transparency and facilitating information sharing, to address information asymmetry and improve the overall educational experience.