, education and innovation as well as geographical factors in a model of economic growth. The key relationships are estimated with … have appeared. Surprisingly, the high level of secondary education played no role to growth. Higher education, in contrast …

This chapter explores the effects of education on nonmarket outcomes from both theoretical and empirical perspectives …-being reflected by their health and cognitive development. They are distinguished from the labor market outcomes of education in terms … of higher earnings and wage rates. The focus is on identifying causal effects of education and on mechanisms via which …

strategies to higher education. The starting hypothesis of this study is that students consider the expected utility of their …-priced education. The results of this paper confirm that both expected wages and admission probabilities determine students …