Estimating Marginal Returns to Education
估计了因不同边际政策变化而选择上大学的人群的教育边际回报，利用经济理论和局部工具变量估计方法，发现不可观测因素使更可能上大学的人回报更高。
This paper estimates marginal returns to college for individuals induced to enroll in college by different marginal policy changes. The recent instrumental variables literature seeks to estimate this parameter, but in general it does so only under strong assumptions that are tested and found wanting. We show how to utilize economic theory and local instrumental variables estimators to estimate the effect of marginal policy changes. Our empirical analysis shows that returns are higher for individuals with values of unobservables that make them more likely to attend college. We contrast our estimates with IV estimates of the return to schooling.