Do Colombian students underestimate higher education returns?

Paul Andres Rodriguez Lesmes, Luis Fernando Gamboa

Research output: Working paper


We analyze the determinants of subjective returns of higher education in Colombia. The information on expectations has been collected in categories, motivating the use of interval regression and an ordered probit approaches for modeling the relationship between beliefs and measures of ability, conditioning on individual, school and regional covariates. The results suggest that there are considerable differences in the size of the expected returns according to some population groups and a strong dominance of college against technical
education. Gender gaps disappear in college education but it is found that girls tend to believe that professional wages are more concentrated into higher income categories than boys. Finally, it seems that Colombian students overestimate the pecuniary returns to education.
Original languageEnglish (US)
Place of PublicationBogota
PublisherUniversidad del Rosario
Number of pages37
StatePublished - Aug 21 2014

Publication series

NameSerie documentos de trabajo Facultad de Economía


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