Executive Summary -- Chapter 1. Introduction -- Chapter 2. Theoretical foundations for asset capitalisation -- Chapter 3. Land prices, empirical evidence and literature review -- Chapter 4. A framework to analyse policies that affect asset capitalisation and mobility -- Chapter 5. Policy...

The basis for the empirical research on earnings determination is the Mincer equation. Individuals are assumed to make schooling decisions by maximizing earnings. Leisure costs of schooling and labour supply are neglected which has some empirically implausible implications. This paper shows a...