1. On estimating the rate of return to education.
- Author
-
Gustman, Alan L.
- Subjects
CONSUMPTION (Economics) ,RATE of return ,EDUCATION ,INVESTMENTS ,FINANCIAL performance ,CAPITAL investments - Abstract
In this situation, personal preferences with respect to the pattern of consumption over time will constitute an important factor influencing the education decision of each individual. This factor, in conjunction with considerations pertaining to the productivity of investment in education, may be expected to strongly influence the observed levels of earnings and education for the population, and thereby estimates of the rate of return to education. Despite an overall awareness of the problem, there has been little systematic attempt to analyse the impact of variations in these preferences on the currently available estimates of the rate of return to education.[1] The main purpose of this paper is to provide such an analysis. [ABSTRACT FROM AUTHOR]
- Published
- 1973
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