Handbook of the Economics of Education, Volume 4

1st Edition

Print ISBN: 9780444534446
eBook ISBN: 9780444535351
Imprint: North Holland
Published Date: 15th August 2011
Page Count: 708
118.00 + applicable tax
95.00 + applicable tax
160.00 + applicable tax
Compatible Not compatible
VitalSource PC, Mac, iPhone & iPad Amazon Kindle eReader
ePub & PDF Apple & PC desktop. Mobile devices (Apple & Android) Amazon Kindle eReader
Mobi Amazon Kindle eReader Anything else

Institutional Access


What is the value of an education? Volume 4 of the Handbooks in the Economics of Education combines recent data with new methodologies to examine this and related questions from diverse perspectives. School choice and school competition, educator incentives, the college premium, and other considerations help make sense of the investments and returns associated with education. Volume editors Eric A. Hanushek (Stanford), Stephen Machin (University College London) and Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw clear lines between newly emerging research on the economics of education and prior work. In conjunction with Volume 3, they measure our current understanding of educational acquisition and its economic and social effects.

Key Features

  • Winner of a 2011 PROSE Award Honorable Mention in Economics from the Association of American Publishers
  • Demonstrates how new methodologies are yielding fresh perspectives in education economics
  • Presents topics and authors whose data and conclusions attest to the globalization of research
  • Complements the policy and social outcomes themes of volume 3


Graduate students and professionals working in economics and education worldwide

Table of Contents



Reflections on the Economics of Education

Introduction to Handbook

Chapter 1: Personality Psychology and Economics

1 Introduction

2 Personality and Personality Traits: Definitions and a Brief History of Personality Psychology

3 Conceptualizing Personality and Personality Traits within Economic Models

4 Measuring Personality

5 Implementing the Measurement Systems

6 Personality and Preference Parameters

7 The Predictive Power of Personality Traits

8 Stability and Change in Personality Traits and Preferences

9 Summary and Conclusions


Chapter 2: Nonproduction Benefits of Education

1 Introduction

2 Education’s Effects on Crime

3 Education’s Effects on Health and Mortality

4 Education’s Effect on Citizenship, Political Participation, and Democracy

5 Conclusions

Appendix: Estimating Mediating Effects



Chapter 3: Overeducation and Mismatch in the Labor Market

1 Introduction

2 Questions

3 Measurement Issues

4 Incidence

5 Impact on Earnings

6 Relation to Labor Market Theories

7 Conclusion


Chapter 4: Migration and Education

1 Introduction

2 Empirical Evidence

3 The Migrant

4 The Effect of Migration on the Skill Base and Educational Attainment of Nonmigrants

5 The Children of Immigrants

6 Conclusion


Chapter 5: Inequality, Human Capital Formation, and the Process of Development

1 Introduction

2 The Benchmark Model

3 A Unified Theory of Inequality and Growth

4 Nonfinancial Hurdles for Human Capital Accumulation

5 Evidence

6 Concluding Remarks


Chapter 6: The Design of Performance Pay i


No. of pages:
© North Holland 2011
North Holland
eBook ISBN:
Hardcover ISBN:


PROSE Award 2011, Economics, Honorable Mention , American Association of Publishers


"2011 PROSE Award Honorable Mention for Economics"

"The increased importance of knowledge, skills, and information in the modern economy means that human capital and education will be even more important in the future than it has been during the past 50 years. ... The articles in these handbook volumes convey some of the excitement that continues in research on the economics of education."--Gary S. Becker, University of Chicago

"This important volume follows soon after volume 3, so together they provide up-to-date expert evaluations of the latest research findings on the economics of education, including some significant topics that are little discussed by economists. There are chapters on how psychological behavior affects economic decisions; the relation between educational achievement on one hand and criminal activity, good health, and political participation on the other; and the relation between education and the process of economic development. Other chapters address more familiar issues, such as education and migration, the use of school vouchers, overall school financing, and performance pay for teachers. One chapter considers an intriguing issue--whether there has been, or can be, over education. Most readers will appreciate the chapter on the determinants of college achievement. Each of the nine long essays comes with an unusually extensive bibliography. Of strong value for researchers and professional educators. Summing Up: Highly recommended. Upper-division undergraduate through professional collections." - CHOICE, August 2012, Vol. 49, No. 11, page 153