Gavrel, Frédéric; Lebon, Isabelle; Rebiere, Therese - Institute for the Study of Labor (IZA) - 2014
The efficiency of educational choices is studied in a search-matching model where individuals face a tradeoff …: acquiring formal education or learning while on the job. When their education effort is successful, newcomers directly obtain a … and individuals devote too much effort to formal education. A self-financing tax and subsidy policy restores market …