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Suppose that I estimate the return to education with the following correctly-specified model: wage_i= beta_0 + Beta_1edu_i+U_i If measured education is equal to actual education

Suppose that I estimate the return to education with the following correctly-specified model: wage_i= beta_0 + Beta_1edu_i+U_i If measured education is equal to actual education plus some random noise, the estimate for Beta_1 will be biased towards zero

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