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dc.contributor.authorBilkic, Natasaen_US
dc.contributor.authorGries, Thomasen_US
dc.contributor.authorPilichowski, Margaretheen_US
dc.date.accessioned2009-11-16en_US
dc.date.accessioned2010-05-14T08:23:39Z-
dc.date.available2010-05-14T08:23:39Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/30651-
dc.description.abstractAs the time of leaving school determines the level of academic achievement this timing decision is central for the human capital investment decision. Real option theory offers a new perspective of the human capital investment decision under uncertainty and irreversibility. Unlike other approaches we include accumulative schooling costs, and provide a full analytical discussion of all determinants of the decision to terminate education and enter the labor market. Further, as we are able to look at a sequence of formal qualification levels, each characterized by various cost and income profiles we can discuss discontinuities and sheepskin effects within this approach.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2825en_US
dc.subject.jelJ24en_US
dc.subject.jelD81en_US
dc.subject.jelI20en_US
dc.subject.ddc330en_US
dc.subject.keywordhuman capital theoryen_US
dc.subject.keyworduncertaintyen_US
dc.subject.keywordirreversibilityen_US
dc.subject.stwBildungsverhaltenen_US
dc.subject.stwAbsolventenen_US
dc.subject.stwEntscheidung bei Unsicherheiten_US
dc.subject.stwIrreversibility of Investmenten_US
dc.subject.stwBildungsinvestitionen_US
dc.subject.stwRealoptionen_US
dc.subject.stwTheorieen_US
dc.titleStay in school or start working? : the human capital investment decision under uncertainty and irreversibilityen_US
dc.typeWorking Paperen_US
dc.identifier.ppn612878481en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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