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What is the value of an education? Volume 4 of the Handbooks in the Economics of Education combines recent data with new methodologies to examine this and related questions from diverse perspectives. School choice and school competition, educator incentives, the college premium, and other considerations help make sense of the investments and returns associated with education. Volume editors Eric A. Hanushek (Stanford), Stephen Machin (University College London) and Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw clear lines between newly emerging research on the economics of education and prior work. In conjunction with Volume 3, they measure our current understanding of educational acquisition and its economic and social effects. It is the winner of a 2011 PROSE Award Honorable Mention in Economics from the Association of American Publishers. It demonstrates how new methodologies are yielding fresh perspectives in education economics. It presents topics and authors whose data and conclusions attest to the globalization of research. It complements the policy and social outcomes themes of volume 3.