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Essays on Education and Individual Decision Making. Edition No. 1
VDM Publishing House, Jan 2009, Pages: 120
The second half of the twentieth century marked the
most dramatic change in U.S. education system. A
large number of school districts have been
eliminated through consolidation, many states have
been forced to alter their reliance on property
taxes to finance public schools, etc. How to finance
public schools is a difficult and contentious
question. The first essay develops a framework for
assessing the impact of governmental involvement on
K-12 education system.The wage gap between a college
graduate and a high school graduate has widened
recently. It is, thus, natural to compare higher
education policies to some other alternative
redistribution schemes such as wage subsidies. The
second essay develops a general equilibrium model
and compares higher education subsidies to wage
subsidies and negative income transfers. The most
common misspecification of binary choice models is
structurally inconsistent with strategic
interaction. The last essay characterizes the
misspecification induced by these models and
recommends researchers to avoid logit or probit
models if the data generation process is believed to
involve strategic interaction.
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