The Timing of Investments in Human Capital: a Case in Education

A.G. Holtmann
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A.G. Holtmann: Department of Economics State University of New York at Binghamton

Public Finance Review, 1973, vol. 1, issue 3, 300-306

Abstract: The timing of investments in human capital is important. Since the net present value of an investment in human capital may change over time, the decision to invest should be made so as to maximize the net present value of the investment. After sketching the proper decision rule in cases where timing is important in an investment, the net present value of completing eighth grade rises for nonwhites in the South. This finding suggests that it might sometimes be wise to delay investments in education until the students are older.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:sae:pubfin:v:1:y:1973:i:3:p:300-306

DOI: 10.1177/109114217300100303

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