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Students' assessment of higher education in Spain

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Author Info
César Alonso-Borrego ()
Antonio Romero-Medina ()

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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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File URL: http://e-archivo.uc3m.es/dspace/bitstream/10016/3030/1/we084823.pdf
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Publisher Info
Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we084823.

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Date of creation: Oct 2008
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Handle: RePEc:cte:werepe:we084823

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Related research
Keywords: university education; subjective valuation; wage expectations; shadow wages; ordered response;

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Find related papers by JEL classification:
I23 - Health, Education, and Welfare - - Education - - - Higher Education Research Institutions
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models
C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models

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    Other versions:
  2. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
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    Other versions:
  5. Alfonso Miranda & Sophia Rabe-Hesketh, 2005. "Maximum Likelihood Estimation of Endogenous Switching And Sample Selection Models for Binary, Count, And Ordinal Variables," Keele Economics Research Papers KERP 2005/14, Centre for Economic Research, Keele University. [Downloadable!]
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  7. Papke, Leslie, 1998. "How Are Participanats Investing Their Accounts in Participant-Directed Individual Account Pension Plans?," American Economic Review, American Economic Association, vol. 88(2), pages 212-16, May. [Downloadable!] (restricted)
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