The Perceived Returns to Education and the Demand for Schooling

  title={The Perceived Returns to Education and the Demand for Schooling},
  author={Robert Jensen},
Economists have long emphasized the link between the market returns to education and investments in schooling. While many studies estimate these returns with earnings data, it is the returns perceived by individuals that affect schooling decisions, and these perceptions may be inaccurate, due to limited or imperfect information. Using data from the Dominican Republic, we find that while the measured returns to schooling are high, the returns perceived by students are extremely low. Students… CONTINUE READING
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