Rates of Return on Investment in Education: Recent Results for Britain

Adrian Ziderman

Journal of Human Resources, 1973, vol. 8, issue 1, 85-97

Abstract: The paper utilizes the results of an earnings follow-up sample survey to the 1966 Census to calculate for the first time private and social rates of return to education in Britain, based on a national representative sample of educated males. The results are subjected to a number of sensitivity tests on the assumptons made. The generally high private rates of return suggest a considerable degree of private underinvestment in education. Excluding externality effects, the social rates of return estimates seem to indicate a relative overexpansion in the graduate part of the university sector and social underinvestment in part-time, higher level technician training.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:jhriss:v:8:y:1973:i:1:p:85-97

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