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Preferences Over Education Expenditure

Author

Listed:
  • Cardak, B.A.

Abstract

This 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.

Suggested Citation

  • Cardak, B.A., 1998. "Preferences Over Education Expenditure," Department of Economics - Working Papers Series 623, The University of Melbourne.
  • Handle: RePEc:mlb:wpaper:623
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    Cited by:

    1. Buly Cardak & James Ted McDonald, 2004. "Neighbourhood effects, preference heterogeneity and immigrant educational attainment," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 559-572.
    2. Viaene, J.-M. & Zilcha, I., 2001. "Human Capital Formation, Income Inequality and Growth," Papers 2001-13, Tel Aviv.
    3. 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.

    More about this item

    Keywords

    EDUCATION ; INCOME DISTRIBUTION ; PREFERENCE CHOICES;

    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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