Preferences Over Education Expenditure

Buly Cardak

No 623, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This paper investigates the effects on income and its distribution of heterogenous preferences for education expenditures. Models of private and public education are studied and compared. Public education expenditures are determined through majority vote. Equilibria for both models are analytically characterised, with the exception of the endogenous distribution of human capital. These distributions are characterised using simulations. Heterogenous preferences increase income inequality in private education, while public education overcomes this heterogeneity to provide convergence of incomes.

Keywords: EDUCATION; INCOME DISTRIBUTION; PREFERENCE CHOICES (search for similar items in EconPapers)
JEL-codes: D31 D71 I22 (search for similar items in EconPapers)
Pages: 37 pages
Date: 1998
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Citations: View citations in EconPapers (4)

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