Üniversitelerde Optimal Beşeri Sermaye ve Toplam Faktör Verimliliği Simülasyonları

Abstract

In this paper, we develop models of university capital in disaggregated and aggregated forms and simulate the trajectories of human/
 non-human capital and total factor productivity in universities. The capital employed by a representative university is decomposed into
 two composite human capital and non-human capital dimensions, each of which is further disaggregated into some sub-dimensions. We
 first present a sketch of a disaggregated model for illustrative purposes and then develop an aggregated model for the simulation of the
 key variables in the system. We incorporate an investment support (subsidy) parameter into the model, the optimal value of which is
 computationally determined. Based on the optimal value of this decision variable, the trajectories of human/non-human capital and total
 factor productivity are obtained. Though the exercise constructed in the paper is a particular or limited one, the model is highly suitable
 for generalized exercises with multiple decision variables and multidimensional objective functions capturing a rich variety of different
 possibilities in real life. The optimality and simulation exercises of this kind could help the university managers to design optimal decision
 systems to achieve the university objectives in a best possible manner in dynamic settings.