The General Educational Development (GED) credential is issued on the basis of an eight hour subject-based test. The test claims to establish equivalence between dropouts and traditional high school graduates, opening the door to college and positions in the labor market. In 2008 alone, almost...

We evaluate the labor-market returns to General Educational Development (GED) certification using state administrative data. We develop a fuzzy regression discontinuity (FRD) method to account for the fact that GED test takers can repeatedly retake the test until they pass it. Our technique can...

The consumption value of higher education is an important factor behind the individual’s educational choice. We provide a comprehensive literature survey, and define the consumption value as the private, intended, non-pecuniary return to higher education. We provide new empirical evidence for...

Looking at smoking-behavior it can be shown that there are differences concerning the time-preference-rate. Therefore this has an effect on the optimal schooling decision in the way that we assume a lower average human capital level for smokers. According to a higher time-preference-rate we...

We analyse the determinants of dropout from secondary and vocational education in Germany using data from the Socio-Economic Panel from 2000 to 2007. In addition to the role of classical variables like family background and school achievements, we examine the effect of noncognitive skills. Both,...

We analyse the determinants of dropout from secondary and vocational education in Germany using data from the Socio-Economic Panel from 2000 to 2007. In addition to the role of classical variables like family background and school achievements, we examine the effect of noncognitive skills. Both,...

This paper presents a dynamic model of the decision to pursue a college education in which students face uncertainty about their future income stream after graduation due to unobserved heterogeneity in their innate scholastic ability. After students matriculate and start taking exams, they...

Studies on the determinants of the demand for higher education typically emphasizethe relevance of socio-economic factors, but leave the spatial dimensions of the prospectivestudents’ university choices largely unexplored. In this study, we investigate the determinantsof university entrance...

This paper argues that the consumption value of education is an important motivation for the educational choice. While controlling for ability, we document that individuals are willing to forego substantial future wage returns in order to acquire a particular type of higher education. We...

The study estimates the effect of school starting age on academic performance for Hungarian grade four students using the "Progress in International Reading Literacy Study" (PIRLS) and the "Trends in Mathematics and Science Study" (TIMMS). The study uses the control function approach, exploiting...