Alstadsæter, Annette - In: CESifo economic studies : CESifo, a joint initiative of … 57 (2011) 3, pp. 458-479
This article argues that the consumption value of education is an important motivation for educational choice. When controlling for ability, we find that individuals are willing to forego substantial future wage returns to acquire a particular type of higher education. We find that high-ability...
