Author: Daniel Johnson
Year: 2004
Source: University of Leeds
We present a structural model of demand for educational investment which includes estimates of earnings paths for educational options as determinants of educational choice. This provides us with directly interpretable parameter estimates. The discount rate is also determined within our demand model. Our results show that expected earnings profiles vary according to observed ability and educational choice. Other socio–demographic factors, particularly social class, also exhibit significant influences on the education decision.
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Web link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=317821Pap
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