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What Do Cost Functions Tell Us about the Cost of an Adequate Education?
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Costrell, Robert M.; Hanushek, Eric; Loeb, Susanna – Education Working Paper Archive, 2008
Econometric cost functions have begun to appear in education adequacy cases with greater frequency. Cost functions are superficially attractive because they give the impression of objectivity, holding out the promise of scientifically estimating the cost of achieving specified levels of performance from actual data on spending. By contrast, the…
Descriptors: Costs, Economics, Regression (Statistics), Experiments