![Sample our Economics, Finance,Business & Industry journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5931/TOC-Subject-Sample-2021-Economics-Finance-Business-Industry.jpg"})
Abstract
The aim of this paper is to estimate an equation for household demand for both secondary and university education, using an estimation of the opportunity cost associated with the decision to invest in education. Limited dependent variable models are applied to the data provided by the Family Budget Survey 1991 for Spain. The results show that the social and economic status of the family has a comparatively greater impact on household expenditure on secondary education than on university education. The opportunity cost is also shown to be a decisive variable in the decision to invest in secondary education, although the results are less conclusive in the case of university education.