Preferences Over Education Expenditure
AbstractThis paper investigates the effects on income and its distribution of heterogenous preferences for education expenditures. Models of private and public education are studied and compared. Public education expenditures are determined through majority vote. Equilibria for both models are analytically characterised, with the exception of the endogenous distribution of human capital. These distributions are characterised using simulations. Heterogenous preferences increase income inequality in private education, while public education overcomes this heterogeneity to provide convergence of incomes.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 623.
Length: 37 pages
Date of creation: 1998
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
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EDUCATION ; INCOME DISTRIBUTION ; PREFERENCE CHOICES;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
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- Viaene, J.-M. & Zilcha, I., 2001.
"Human Capital Formation, Income Inequality and Growth,"
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- Buly Cardak & James Ted McDonald, 2004.
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- Buly A Cardak & James Ted McDonald, 2002. "Neighbourhood Effects, Preference Heterogeneity and Immigrant Educational Attainment," Working Papers 2002.02, School of Economics, La Trobe University.
- Jean-Marie Viaene & Itzhak Zilcha, 2009. "Human Capital and Inequality Dynamics: The Role of Education Technology," Economica, London School of Economics and Political Science, vol. 76(304), pages 760-778, October.
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