The taste for leisure, career choice, and the returns to education
We develop a simple methodology to estimate the returns to education despite heterogeneous labor/leisure preferences. The labor supply behavior of doctors and physician assistants is consistent with people choosing between the two careers based on differing tastes for leisure.
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- Eckaus, Richard S, 1973. "Estimation of the Returns to Education with Hourly Standardized Incomes," The Quarterly Journal of Economics, MIT Press, vol. 87(1), pages 121-31, February.
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- Hanming Fang, 2006. "Disentangling The College Wage Premium: Estimating A Model With Endogenous Education Choices," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 47(4), pages 1151-1185, November.
- Miller, Paul W & Mulvey, Charles & Martin, Nick, 1995. "What Do Twins Studies Reveal about the Economic Returns to Education? A Comparison of Australian and U.S. Findings," American Economic Review, American Economic Association, vol. 85(3), pages 586-99, June.
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- Michael Abbott & Orley Ashenfelter, 1974. "Labor Supply, Commodity Demand, and the Allocation of Time," Working Papers 437, Princeton University, Department of Economics, Industrial Relations Section..
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