For educational investment to be explained using hedonic theory, the costs of education

Question

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According to the hedonic theory, individuals make decisions based on the expected pleasure or satisfaction they will derive from a particular activity. In the case of educational investment, the costs of education are likely to vary between workers based on their individual preferences for education and the expected benefits they will receive from obtaining an education. Therefore, the costs of education must vary between workers.

For Educational Investment to Be Explained Using Hedonic Theory, the Costs