Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/30601
Authors: 
Alstadsæter, Annette
Sievertsen, Hans Henrik
Year of Publication: 
2009
Series/Report no.: 
CESifo Working Paper 2871
Abstract: 
The consumption value of higher education is an important factor behind the individual’s educational choice. We provide a comprehensive literature survey, and define the consumption value as the private, intended, non-pecuniary return to higher education. We provide new empirical evidence for the willingness to pay for the consumption value of a particular type of higher education. Even when controlling for ability selection, we find on US data that Liberal Arts graduates were willing to forego 46 pct. of their potential income in order to enjoy the consumption value of this educational type.
Subjects: 
educational choice
type of education
non-pecuniary return
willingness to pay
consumption value of education
JEL: 
J24
J31
J33
I21
H89
Document Type: 
Working Paper

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