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The Role of Labour Market Expectations and Admission Probabilities in Students' Application Decisions on Higher Education: The Case of Hungary

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  • Julia Varga

Abstract

This paper analyses students' application strategies to higher education, the effects of labour market expectations and admission probabilities. The starting hypothesis of this study is that students consider the expected utility of their choices, a function of expected net lifetime earnings and the probability of admission. Based on a survey carried out among Hungarian secondary school students, three aspects of application decisions are investigated: the number of applications; the selection between state-funded and cost-priced education; and the institutions/field specialization ranked first and last in students' choices. The results of this paper confirm that both expected wages and admission probabilities determine students' application strategies and that the seemingly irrational student preferences for institutions/orientations with less favourable labour market opportunities might be the result of a rational decision process.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Education Economics.

Volume (Year): 14 (2006)
Issue (Month): 3 ()
Pages: 309-327

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Handle: RePEc:taf:edecon:v:14:y:2006:i:3:p:309-327

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Related research

Keywords: Human capital; higher education; field of study; earnings expectations;

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References

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  1. Kathy Cannings & Sophie Mahseredjian & Claude Montmarquette, 1997. "How Do Young People Choose College Majors ?," CIRANO Working Papers 97s-38, CIRANO.
  2. Rochat, Denis & Demeulemeester, Jean-Luc, 2001. "Rational choice under unequal constraints: the example of Belgian higher education," Economics of Education Review, Elsevier, vol. 20(1), pages 15-26, February.
  3. Brunello, Giorgio & Lucifora, Claudio & Winter-Ebmer, Rudolf, 2001. "The Wage Expectations of European College Students," CEPR Discussion Papers 2817, C.E.P.R. Discussion Papers.
  4. Jeff Dominitz & Charles F. Manski, 1994. "Eliciting Student Expectations Of The Returns To Schooling," Econometrics 9411002, EconWPA.
  5. Chevalier, Arnaud & Conlon, Gavan, 2003. "Does It Pay to Attend a Prestigious University?," IZA Discussion Papers 848, Institute for the Study of Labor (IZA).
  6. Júlia Varga, 2002. "Earnings Expectations and Higher-education Enrolment Decisions in Hungary," Society and Economy, Akadémiai Kiadó, Hungary, vol. 24(1), pages 121-152, July.
  7. Julian R. Betts, 1996. "What Do Students Know about Wages? Evidence from a Survey of Undergraduates," Journal of Human Resources, University of Wisconsin Press, vol. 31(1), pages 27-56.
  8. Mark C. Berger, 1988. "Predicted future earnings and choice of college major," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 41(3), pages 418-429, April.
  9. Wolter, Stefan C, 2000. "Wage Expectations: A Comparison of Swiss and US Students," Kyklos, Wiley Blackwell, vol. 53(1), pages 51-69.
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Cited by:
  1. Riphahn, Regina T. & Trübswetter, Parvati, 2011. "The intergenerational transmission of educational attainment in East and West Germany," IAB Discussion Paper 201104, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
  2. Mihails Hazans & Ija Trapeznikova, 2006. "Access to Secondary Education in Albania: Incentives, Obstacles, and Policy Spillovers," SSE Riga/BICEPS Research Papers 2006-1, Baltic International Centre for Economic Policy Studies (BICEPS) and Stockholm School of Economics in Riga (SSE Riga).
  3. Török, Ádám, 2008. "A mezőny és tükörképei. Megjegyzések a magyar felsőoktatási rangsorok hasznáról és korlátairól
    [The field and reflections of it. Comments on the usefulness and limitations of league ta
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 874-890.

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