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Title: Alternatives to College Education: Incidence and Returns for Young Males
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1. Schochet, Peter Zygmunt
Alternatives to College Education: Incidence and Returns for Young Males
Ph.D. Dissertation, Yale University, 1991
Cohort(s): NLSY79
Publisher: UMI - University Microfilms, Bell and Howell Information and Learning
Keyword(s): College Education; Education, Secondary; Educational Returns; Family Background; Job Training; Military Training; Modeling, Probit; Training, Post-School; Vocational Training

This thesis explores the incidence of and returns to alternatives to college programs for young males using data from the random sample of the 1979-1986 National Longitudinal Survey of Youth. Econometric methods are used to study government, vocational and commercial, military, company, and two and four year college programs in a unified choice framework. The economic model is based on the notion that individuals choose the program(s) that maximize their expected net present value of lifetime income streams. Family background, demand condition, and ability variables are used to proxy for the individuals' 'costs' of participation in the particular program. The results show that the vast majority of males invested in at most one type of training program, and that most programs were taken within the first four years after secondary school. The multinomial probit model estimates suggest that there exist some significant correlations among the normalized unobservables in the choice equations. The estimates from the earnings equations show that the training variables are almost orthogonal to one another. Therefore, results from previous human capital studies which mostly treat alternative forms of investment programs in isolation are not seriously biased. The returns to the training programs are generally positive and significant. More importantly, it is the amount of time spent in the programs which yields positive effects and not program participation per se. Results suggest that the studied noncollegiate training programs can be productive alternatives to college for those with access to limited resources.
Bibliography Citation
Schochet, Peter Zygmunt. Alternatives to College Education: Incidence and Returns for Young Males. Ph.D. Dissertation, Yale University, 1991.