Day: February 29, 2024

Estimating the Return to Education Is Still Plagued by Cloudy Thinking

The financial return to education is fiendishly hard to quantify for a host of legitimate reasons, including limited data availability and the need to account for unobservable counterfactuals. But it is also difficult because of cloudy thinking such as misinterpretations, survivorship bias, and faulty assumptions. The best example of misinterpretation concerns the decades-long run of […]

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