Publication: Students’ assessment of higher education in Spain
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2008-09
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Abstract
We explore evidence on the perceived economic value of higher education to college
students in terms of their reported expected and shadow wages. Our estimates
provide predictions for expected wages that are similar across gender and become
closer to actual wages as students approach graduation. This is consistent with an
improvement in the quality of student information used to forecast wages. Shadow
wages relative to expected wages increase during the academic year for men and
are constant for women, which is consistent with the higher reluctance of women to
drop out of university. Finally, students with lower socioeconomic background and
poor performance exhibit a higher propensity to drop out.
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Keywords
University education, Subjective valuation, Wage expectations, Shadow wages, Ordered response