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dc.contributor.authorBilkic, Natasaen
dc.contributor.authorGries, Thomasen
dc.contributor.authorPilichowski, Margaretheen
dc.date.accessioned2009-11-16-
dc.date.accessioned2010-05-14T08:23:39Z-
dc.date.available2010-05-14T08:23:39Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2825en
dc.subject.jelJ24en
dc.subject.jelD81en
dc.subject.jelI20en
dc.subject.ddc330en
dc.subject.keywordhuman capital theoryen
dc.subject.keyworduncertaintyen
dc.subject.keywordirreversibilityen
dc.subject.stwBildungsverhaltenen
dc.subject.stwAbsolventenen
dc.subject.stwEntscheidung bei Unsicherheiten
dc.subject.stwIrreversibility of Investmenten
dc.subject.stwBildungsinvestitionen
dc.subject.stwRealoptionen
dc.subject.stwTheorieen
dc.titleStay in school or start working? : the human capital investment decision under uncertainty and irreversibility-
dc.typeWorking Paperen
dc.identifier.ppn612878481en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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