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J. Heckman and S. Polachek, “Empirical Evidence of the Functional Form of the Earnings-Schooling Relationship,” Journal of theAmerican Statistical Association, Vol. 69, No. 346, 1974, pp. 350-354. doi:10.2307/2285656

has been cited by the following article:

• TITLE: The Inconsistency of the Quadratic Mincer Equation: A Proof

  AUTHORS: Susan S. Hamlen

  KEYWORDS: Mincer; Salary; Continuing Education; Optimal Control

  JOURNAL NAME: Theoretical Economics Letters, Vol.2 No.2, May 23, 2012

  ABSTRACT: This paper provides a proof that the well-known quadratic Mincer (1974) Equation, wherein the log of wage or salary is a quadratic function of the years of experience, is inconsistent with the usual assumptions of utility maximization. The proof requires the use of the dynamic version of the Mincer Equation and the assumption of an isoelastic marginal utility function. The result is that a polynomial of degree three or greater is required to relate the log of wage or salary to the number of years of experience.