Does Examination Hell Pay Off? A Cost-Benefit Analysis of "Ronin" and College Education in Japan
College-bound students in Japan undergo a process of intense preparation known as examination hell. An extreme manifestation of examination hell is the ronin phenomenon. Typically thirty percent of students choose the ronin option under which they spend years in addition to high school preparing for the next yearfs college entrance examinations. Using the mean scores of the entrance examinations as a measure of college quality, I find that college quality significantly improves the internal rate of return (IRR) to college education among the sample of male graduates in Japan. Ronin increases earnings indirectly by improving the quality of the college attended. I also show that the IRR with respect to ronin is one of diminishing returns. On average, the number of ronin years which maximizes the IRR is found to be somewhere between one and two years.
|Date of creation:||30 Nov 1999|
|Date of revision:||22 Aug 2000|
|Publication status:||Published in Economics of Education Review, 2007, pages 271-284.|
|Contact details of provider:|| Postal: |
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
Web page: http://www.hhs.se/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Heckman, James, 2013.
"Sample selection bias as a specification error,"
Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
- Willis, Robert J & Rosen, Sherwin, 1979.
"Education and Self-Selection,"
Journal of Political Economy,
University of Chicago Press, vol. 87(5), pages S7-36, October.
- Gronau, Reuben, 1974. "Wage Comparisons-A Selectivity Bias," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1119-43, Nov.-Dec..
- Hashimoto, Masanori & Raisian, John, 1985. "Employment Tenure and Earnings Profiles in Japan and the United States," American Economic Review, American Economic Association, vol. 75(4), pages 721-35, September.
- Jacob Mincer & Yoshio Higuchi, 1987. "Wage Structures and Labor Turnover in the U.S. and in Japan," NBER Working Papers 2306, National Bureau of Economic Research, Inc.
- Psacharopoulos, George, 1996. "Economics of education: A research agenda," Economics of Education Review, Elsevier, vol. 15(4), pages 339-344, October.
- Johnson, George E & Stafford, Frank P, 1996. "On the Rate of Return to Schooling Quality," The Review of Economics and Statistics, MIT Press, vol. 78(4), pages 686-91, November.
- Yoshi-Fumi Nakata & Carl Mosk, 1987. "The Demand for College Education in Postwar Japan," Journal of Human Resources, University of Wisconsin Press, vol. 22(3), pages 377-404.
When requesting a correction, please mention this item's handle: RePEc:hhs:hastef:0346. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helena Lundin)
If references are entirely missing, you can add them using this form.