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dc.contributor.authorArcidiacono, Peteren
dc.contributor.authorHotz, V. Josephen
dc.contributor.authorKang, Songmanen
dc.date.accessioned2010-03-09-
dc.date.accessioned2010-07-07T12:04:19Z-
dc.date.available2010-07-07T12:04:19Z-
dc.date.issued2010-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x4738en
dc.subject.jelI2en
dc.subject.jelC81en
dc.subject.ddc330en
dc.subject.keywordChoice of college majoren
dc.subject.keywordsubjective expectationsen
dc.subject.stwStudienfachen
dc.subject.stwBildungsverhaltenen
dc.subject.stwStudierendeen
dc.subject.stwBerufswahlen
dc.subject.stwEinkommenen
dc.subject.stwErwartungstheorieen
dc.subject.stwSchätzungen
dc.subject.stwUSAen
dc.titleModeling college major choices using elicited measures of expectations and counterfactuals-
dc.type|aWorking Paperen
dc.identifier.ppn620615435en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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