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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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Author Info
Julia Varga () (Institute of Economics, Hungarian Academy of Sciences)

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Abstract

This paper analyses the effects of labour market expectations and admission probabilities on students' application strategies to higher education. 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 institutions/ field specialisation ranked first and last in students' choices; and the selection between state-funded and cost-priced education. 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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File URL: http://www.econ.core.hu/doc/bwp/bwp/bwp0308.pdf
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Publisher Info
Paper provided by Institute of Economics, Hungarian Academy of Sciences in its series Budapest Working Papers on the Labour Market with number 0308.

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Length: 33 pages
Date of creation: Dec 2003
Date of revision:
Handle: RePEc:has:bworkp:0308

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Related research
Keywords: Education; Human Capital; Skills; Occupational Choice; Labor Productivity;

Other versions of this item:

Find related papers by JEL classification:
I20 - Health, Education, and Welfare - - Education - - - General
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

References listed on IDEAS
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  1. Mark C. Berger, 1988. "Predicted future earnings and choice of college major," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 41(3), pages 418-429, April.
  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. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
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  4. Montmarquette, Claude & Cannings, Kathy & Mahseredjian, Sophie, 2002. "How do young people choose college majors?," Economics of Education Review, Elsevier, vol. 21(6), pages 543-556, December. [Downloadable!] (restricted)
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  5. J. Dominitz & C. F. Manski, . "Eliciting student expectations of the returns to schooling," Institute for Research on Poverty Discussion Papers 1049-94, University of Wisconsin Institute for Research on Poverty. [Downloadable!]
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  6. Chevalier, Arnaud & Conlon, Gavan, 2003. "Does It Pay to Attend a Prestigious University?," IZA Discussion Papers 848, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  7. Wolter, Stefan C, 2000. "Wage Expectations: A Comparison of Swiss and US Students," Kyklos, Blackwell Publishing, vol. 53(1), pages 51-69.
  8. Julia Varga, 2001. "Earnings Expectations and Higher Education Enrolment Decisions in Hungary," Budapest Working Papers on the Labour Market 0110, Institute of Economics, Hungarian Academy of Sciences. [Downloadable!]
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