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dc.contributor.authorArcidiacono, Peteren_US
dc.contributor.authorHotz, V. Josephen_US
dc.contributor.authorKang, Songmanen_US
dc.date.accessioned2010-03-09en_US
dc.date.accessioned2010-07-07T12:04:19Z-
dc.date.available2010-07-07T12:04:19Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/35928-
dc.description.abstractThe choice of a college major plays a critical role in determining the future earnings of college graduates. Students make their college major decisions in part due to the future earnings streams associated with the different majors. We survey students about what their expected earnings would be both in the major they have chosen and in counterfactual majors. We also elicit students' subjective assessments of their abilities in chosen and counterfactual majors. We estimate a model of college major choice that incorporates these subjective expectations and assessments. We show that both expected earnings and students' abilities in the different majors are important determinants of student's choice of a college major. We also show that students' forecast errors with respect to expected earnings in different majors is potentially important, with our estimates suggesting that 7.5% of students would switch majors if they made no forecast errors.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 4738en_US
dc.subject.jelI2en_US
dc.subject.jelC81en_US
dc.subject.ddc330en_US
dc.subject.keywordChoice of college majoren_US
dc.subject.keywordsubjective expectationsen_US
dc.subject.stwStudienfachen_US
dc.subject.stwBildungsverhaltenen_US
dc.subject.stwStudierendeen_US
dc.subject.stwBerufswahlen_US
dc.subject.stwEinkommenen_US
dc.subject.stwErwartungstheorieen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwUSAen_US
dc.titleModeling college major choices using elicited measures of expectations and counterfactualsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn620615435en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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