Estimating the Technology of Cognitive and Noncognitive Skill Formation

Figure 1: Ratio of early to late investment in human capital

as a function of the ratio of first period to second period investment productivity

for different values of the complementarity parameter

Ratio ofEarly to Late Investment

3.

2.

1.

0.

5

3

5

5

1

5

0.1           0.2           0.3           0.4           0.5           0.6           0.7           0.8           0.9

Skill Multiplier (γ)

Note: Assumes r = 0.

Source: Cunha and Heckman (2007).

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