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Trapped, Delayed and Handicapped

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  • Sjögren, Anna

    ()
    (The Research Institute of Industrial Economics)

  • Sällström, Susanna

    ()
    (Faculty of Economics and Politics)

Abstract

The dynamics of self-confidence are modelled in an environment where rational individuals optimally choose educations and occupations with the aim to acquire productive skills while learning about ability. It is shown how the presence of uninformative options can trap individuals below their potential. Furthermore, the trade-off between probability of success and value of skills may induce uncertain individuals to acquire less productive skills on their way to ability intensive occupations. The value of information also induces uncertain individuals to delay their labor market entry. The model can explain differences in perseverance in the face of failure.

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Bibliographic Info

Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 613.

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Length: 42 pages
Date of creation: 16 Mar 2004
Date of revision:
Handle: RePEc:hhs:iuiwop:0613

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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
Phone: +46 8 665 4500
Fax: +46 8 665 4599
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Web page: http://www.ifn.se/
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Keywords: Self-Confidence; Self-Selection; Skill Accumulation; Bayesian Learning;

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References

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  1. Prendergast, Canice & Stole, Lars, 1996. "Impetuous Youngsters and Jaded Old-Timers: Acquiring a Reputation for Learning," Journal of Political Economy, University of Chicago Press, vol. 104(6), pages 1105-34, December.
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  9. Richard Breen & Cecilia Garcia-Penalosa, 2002. "Bayesian Learning and Gender Segregation," Journal of Labor Economics, University of Chicago Press, vol. 20(4), pages 899-922, October.
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Cited by:
  1. de Luna, Xavier & Stenberg, Anders & Westerlund, Olle, 2010. "Can adult education delay retirement from the labour market?," Working Paper Series 2010:2, IFAU - Institute for Evaluation of Labour Market and Education Policy.
  2. Sjögren, Anna & Saez-Marti, Maria, 2004. "On the Timing of Education," Working Paper Series 614, Research Institute of Industrial Economics.
  3. Konrad, Kai A., 2003. "Mobilität in mehrstufigen Ausbildungsturnieren," Discussion Papers, Research Unit: Market Processes and Governance SP II 2003-30, Social Science Research Center Berlin (WZB).

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