The Inconsistency of the Quadratic Mincer Equation: A Proof


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.

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S. Hamlen, "The Inconsistency of the Quadratic Mincer Equation: A Proof," Theoretical Economics Letters, Vol. 2 No. 2, 2012, pp. 115-120. doi: 10.4236/tel.2012.22021.

Conflicts of Interest

The authors declare no conflicts of interest.


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