Education and Experience’s Impact on Wages: Heckman Correction for Non-Random Sampling

There are many problems in economics where a randomized control group cannot be constructed or a seemingly random assignment is fraught with biased introduced by the researcher. A famous example was the Truman vs. Dewey election poll conducted by Gallup Polls.  The poll showed that Dewey would win by a landslide, a statistically significant margin … More Education and Experience’s Impact on Wages: Heckman Correction for Non-Random Sampling