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Ability Sorting and the Returns to College Major

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Arcidiacono, Peter

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Abstract

Large earnings and ability differences exist across majors. This paper seeks to estimate the monetary returns to particular majors as well as find the causes of the ability sorting across majors. In order to accomplish this, I estimate a dynamic model of college and major choice. Even after controlling for selection, large earnings premiums exist for certain majors. Differences in monetary returns explain little of the ability sorting across majors; virtually all ability sorting is because of preferences for particular majors in college and the workplace, with the former being larger than the latter.

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Paper provided by Duke University, Department of Economics in its series Working Papers with number 02-26.

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Date of creation: 2002
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Handle: RePEc:duk:dukeec:02-26

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Postal: Department of Economics Duke University 213 Social Sciences Building Box 90097 Durham, NC 27708-0097
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Find related papers by JEL classification:
I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information

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  1. Anders Holm & Mads Meier Jæger, 2005. "Relative Risk Aversion and Social Reproduction in Intergenerational Educational Attainment: Application of a Dynamic Discrete Choice Mode," CAM Working Papers 2006-04, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics. [Downloadable!]
  2. Buonanno, Paolo & Pozzoli, Dario, 2008. "Early Labour Market Returns to College Subjects," Working Papers 08-10, University of Aarhus, Aarhus School of Business, Department of Economics. [Downloadable!]
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  4. Juanna Schrøter Joensen & Helena Skyt Nielsen, 2006. "Is there a Causal Effect of High School Math on Labor Market Outcomes?," IZA Discussion Papers 2357, Institute for the Study of Labor (IZA). [Downloadable!]
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  5. Charlotte Christiansen & Juanna Schröter Joensen & Helena Skyt Nielsen, 2006. "The Risk-Return Trade-Off in Human Capital Investment," IZA Discussion Papers 1962, Institute for the Study of Labor (IZA). [Downloadable!]
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  6. Flores-Lagunes, Alfonso & Light, Audrey, 2009. "Interpreting Degree Effects in the Returns to Education," IZA Discussion Papers 4169, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Sullivan, Paul, 2006. "Interpolating Value Functions in Discrete Choice Dynamic Programming Models," MPRA Paper 864, University Library of Munich, Germany. [Downloadable!]
  8. Daniel S. Hamermesh & Stephen G. Donald, 2004. "The Effect of College Curriculum on Earnings: Accounting for Non-Ignorable Non-Response Bias," NBER Working Papers 10809, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. Christiansen, Charlotte & Joensen, Juanna Schröter & Rangvid, Jesper, 2005. "Do More Economists Hold Stocks?," Finance Research Group Working Papers F-2005-02, University of Aarhus, Aarhus School of Business, Department of Business Studies. [Downloadable!]
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  10. Maria Knoth Humlum & Kristin J. Kleinjans & Helena Skyt Nielsen, 2007. "An Economic Analysis of Identity and Career Choice," IZA Discussion Papers 3120, Institute for the Study of Labor (IZA). [Downloadable!]
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  11. Beffy, Magali & Fougère, Denis & Maurel, Arnaud, 2009. "Choosing the Field of Study in Post-Secondary Education: Do Expected Earnings Matter?," IZA Discussion Papers 4127, Institute for the Study of Labor (IZA). [Downloadable!]
  12. Peter Arcidiacono, Holger Sieg, Frank Sloan, 2001. "Living Rationally Under the Volcano? Heavy Drinking and Smoking Among the Elderly," Computing in Economics and Finance 2001 207, Society for Computational Economics. [Downloadable!]
  13. Basit Zafar, 2009. "How do college students form expectations?," Staff Reports 378, Federal Reserve Bank of New York. [Downloadable!]
  14. Navon, Guy, 2006. "Human Capital Heterogeneity: University Choice and Wages," MPRA Paper 9708, University Library of Munich, Germany. [Downloadable!]
  15. Kucel, Aleksander & Byrne, Delma, 2008. "Are Over-educated People Insiders or Outsiders? A Case of Job Search Methods and Over-education in UK," Papers WP258, Economic and Social Research Institute (ESRI). [Downloadable!]
  16. Elish Kelly & Philip O'Connell & Emer Smyth, 2008. "The Economic Returns to Field of Study and Competencies Among Higher Education Graduates in Ireland," Papers WP242, Economic and Social Research Institute (ESRI). [Downloadable!]
  17. Brahim Boudarbat & Claude Montmarquette, 2007. "Choice of Fields of Study of Canadian University Graduates: The Role of Gender and their Parents’ Education," IZA Discussion Papers 2552, Institute for the Study of Labor (IZA). [Downloadable!]
  18. Philip Oreopoulos & Kjell G. Salvanes, 2009. "How large are returns to schooling? Hint: Money isn't everything," NBER Working Papers 15339, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  19. Charlotte Christiansen & Juanna Schröter Joensen & Jesper Rangvid, 2007. "Are Economists More Likely to Hold Stocks?," CREATES Research Papers 2007-08, School of Economics and Management, University of Aarhus. [Downloadable!]
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