After first controlling for the effects of age,race,gender,union status,and location on earnings,suppose that a researcher estimates the rate of return to an additional year of schooling to be 8%.Note that the researcher did not control for unobserved differences in individual cognitive ability.Why is failure to control for cognitive ability among individuals in the sample a potential problem for the credibility of the researcher's estimate of the rate of return to schooling?

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The Answer of After first controlling for the effects of age,race,gender,union status,and location on earnings,suppose that a researcher estimates the rate of return to an additional year of schooling to be 8%.Note that the researcher did not control for unobserved differences in individual cognitive ability.Why is failure to control for cognitive ability among individuals in the sample a potential problem for the credibility of the researcher's estimate of the rate of return to schooling?

After First Controlling for the Effects of Age,race,gender,union Status,and Location