A model of occupational choice and human capital investment is developed and tested. The model allows family background to influence occupational choice via access to economic resources, differences in costs of schooling, and ability uncertainty. The model predicts that people are more sensitive to economic incentives when considering occupations that are different from the parental occupation. It also predicts that the occupational choice of individuals from poor background is more sensitive to economic incentives than the occupational choice of well off individuals. These implications are confirmed on Swedish data using a mixed multinomial logit framework, explicitly accounting for unobserved heterogeneity.
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Length: 27 pages Date of creation: 2000 Date of revision: Handle: RePEc:fth:iniesr:539
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Find related papers by JEL classification: C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity J62 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Job, Occupational and Intergenerational Mobility; Promotion
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Gary S. Becker & Nigel Tomes, 1994.
"X. Human Capital and the Rise and Fall of Families,"
NBER Chapters,
in: Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition), pages 257-298
National Bureau of Economic Research, Inc.
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