Measuring the Value of Better Schools

[...]In this paper, I examine two methods of measuringthe value of better schools. One involves following individualsover time to determine how the quality of theirschooling affects outcomes later in their lives; the otherinvolves calculating parental valuation of better schoolstoday. I review the benefits and limitations of the twomethods, then briefly consider how these methods mightbe used in evaluating policies. At the end of the paper, Inote some uncertainties affecting research in the field andoutline directions for future research.[...]