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Given the Amount of Time and Other Costs of Investing

question 63

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Given the amount of time and other costs of investing in human capital that it takes to earn a Ph.D., why are college professors paid less than other occupations that require similar or lesser amounts of human capital?


Definitions:

Quantitative Research

A research method focused on gathering and analyzing numerical data to identify patterns, behaviors, or trends.

Scanner Data

A type of syndicated external secondary data used in quantitative research that is obtained from scanner readings of UPC codes at check-out counters.

Articulate Experiences

means to express or convey one's personal or shared experiences in a clear and effective manner.

Consumers' Preferences

Refers to the likes, dislikes, motivations, and desires of individuals or groups of consumers, which influence their buying behavior.

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