Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147364
Authors: 
Diaz-Serrano, Luis
Hartog, Joop
Nilsson, William
van Ophem, Hans
Yang, Po
Year of Publication: 
2016
Series/Report no.: 
CESifo Working Paper 6110
Abstract: 
Students' choices in education can only be based on expected outcomes. Econometric models that infer expectations based on ex post outcomes impose a rational structure of expectations on school performance and post-graduation earnings. Direct surveys suggest much ignorance and fuzziness. We use survey data on expectations in four universities in three countries and check for relations of expected probability to graduate and of expected earnings with personal abilities and attitudes. We find that most of the difference in expectations among individuals is just noise.
Subjects: 
student expectations
earnings
earnings dispersion
risk attitudes
JEL: 
I21
I26
J24
D83
Document Type: 
Working Paper

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