Education: Consumption or Production / Edward P. Lazear.

Author
Lazear, Edward P. [Browse]
Format
Book
Language
English
Published/​Created
  • Cambridge, Mass. National Bureau of Economic Research 1975.
  • Cambridge, Massachusetts : National Bureau of Economic Research, 1975.
Description
1 online resource: illustrations (black and white);

Details

Subject(s)
Related name
Series
  • Working Paper Series (National Bureau of Economic Research) no. w0104. [More in this series]
  • NBER working paper series no. w0104
Summary note
It can be claimed that education is simply a normal consumption good and that like all other normal goods, an increase in wealth will produce an increase in the amount of schooling purchased. Increased incomes are associated with higher schooling attainment as the simple result of an income effect. If this is so, schooling increases an individual's wealth only by the consumption value of the good, since it is a non-saleable asset. This paper will attempt to determine empirically the amount by which an increase in wealth is caused by schooling as distinguished from the amount by which the demand for schooling increases as the result of an increase in wealth.
Notes
September 1975.
Source of description
Print version record
Other title(s)
Education
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