Aakvik, Arild; Salvanes, Kjell G.; Vaage, Kjell - Institutt for Økonomi, Universitetet i Bergen - 2003
The decision to take more education is complex, and is influenced by individual ability, financial constraints, family background, preferences, etc. Such factors, normally unobserved by the researcher, introduce endogeneity and heterogeneity problems into estimating the returns to education. In...