Life Cycle Schooling and Dynamic Selection Bias: Models and Evidence for Five Cohorts
AbstractThis paper examines an empirical regularity found in many societies: that family influences on the probability of transiting from one grade level to the next diminish at higher levels of education. We examine the statistical model used to establish the empirical regularity and the intuitive behavioral interpretation often used to rationalize it. We show that the implicit economic model assumes myopia. The intuitive interpretive model is identified only by imposing arbitrary distributional assumptions onto the data. We produce an alternative choice-theoretic model with fewer parameters that rationalizes the same data and is not based on arbitrary distributional assumptions.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6385.
Date of creation: Jan 1998
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Publication status: published as Journal of Political Economy, Vol. 106, no. 2 (April 1998).
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Find related papers by JEL classification:
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
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