Factors Determining the Efficiency of Information Environment in the Markets for Private Professional Education

This paper presents the information environment in the markets with respect to the markets for private professional education in India. The paper also discusses the factors influencing the information environment in these markets from three angles namely the availability of information, accessibility of information and the processing of information. this paper considers efficiency of information environment in any market is determined by the capacity to read information by receiver and the sender. The essence of the paper is that, privatization and expansion in the choices in the market for private professional education created uncertainty in the minds of the aspirants (candidates aspiring to do professional programs) of the professional program (professional course). Education is an experienced good and with effects on the life chances of individuals. Therefore proper information should be made available to the aspirants to ensure the quality in their choice. But one of the problems faced by the developing nations compared to the developed ones is the lack of an adequate information data base which includes comprehensive information about the features and quality of the alternatives available in the markets.