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Modeling college major choices using elicited measures of expectations and counterfactuals
Arcidiacono, Peter; Hotz, V. Joseph; Kang, Songman - 2010
The 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 …
Persistent link: https://www.econbiz.de/10010269452
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Happiness and the persistence of income shocks
Bayer, Christian; Juessen, Falko - 2012
We reassess the empirical effect of income and employment on self-reported well-being. Our analysis makes use of a novel two-step estimation procedure that allows applying instrumental variable regressions with ordinal observable data. As suggested by the theory of incomplete markets, we...
Persistent link: https://www.econbiz.de/10010283993