The Returns to Education. Background. Acquiring education is an investment in the sense that one givers up something now (you could be working in McDonalds and not paying fees) in the hope of getting more back in the future.
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Do identical twins really have identical ability – identical genes but perhaps not everything in the genes
Measurement error problems – measurement error leads to attenuation bias, measurement error like to be bigger in Δs than s as identical twins tend to have similar levels of schooling – see notes for details
Similar to point made in panel data section – within twin estimates like fixed effect estimates