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Title: Forming Wage Expectations through Learning: Evidence from College Major Choices
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Xia, Xiaoyu |
Forming Wage Expectations through Learning: Evidence from College Major Choices Journal of Economic Behavior and Organization 132,A (December 2016): 176-196. Also: http://www.sciencedirect.com/science/article/pii/S0167268116302426 Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): College Major/Field of Study/Courses; Learning Hypothesis; Occupations; Siblings; Wages How do college students choose their majors, and what role does the family play in their choices? I use data from two major longitudinal surveys to develop and estimate a model in which students learn about earning opportunities associated with different majors through the wages of older siblings and parents. The probability of a student choosing a major that corresponds to the occupation of a family member is strongly correlated with the family member's wage at the time the major choice is made. This correlation remains strong after controlling for family-correlated abilities or preferences, and additional empirical evidence suggests that the observed correlation arises through a family-based wage information channel. |
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Bibliography Citation
Xia, Xiaoyu. "Forming Wage Expectations through Learning: Evidence from College Major Choices." Journal of Economic Behavior and Organization 132,A (December 2016): 176-196.
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