Almlund, Mathilde, Angela Lee Duckworth, James Heckman and Tim Kautz. 2011. Personality Psychology and Economics. In Handbook of the Economics of Education, ed. Eric A. Hanushek, Stephen Machin and Ludger Woessmann. Vol. 4 Elsevier B.V. pp. 1–181.
Altonji, Joseph G. 1993. “The Demand for and Return to Education When Education Outcomes Are Uncertain.†Journal of Labor Economics 11(1):48–83.
Altonji, Joseph G., Todd E. Elder and Christopher R. Taber. 2005a. “An Evaluation of Instrumental Variable Strategies for Estimating the Effects of Catholic Schooling.†Journal of Human Resources 40(4):791–821.
Altonji, Joseph G., Todd E. Elder and Christopher R. Taber. 2005b. “Selection on Observed and Unobserved Variables: Assessing the Effectiveness of Catholic Schools.†Journal of Political Economy 113(1):151–184.
Altonji, Joseph G., Todd E. Elder and Christopher R. Taber. 2008. “Unobservables Assess Bias from Using Selection on Observed Variables to when Evaluating Swan-Ganz.†American Economic Review: Papers and Proceedings 98(2):345–350.
Arcidiacono, Peter, Joseph V. Hotz and Songman Kang. 2013. “Modeling college major choices using elicited measures of expectations and counterfactuals.†Journal of Econometrics 166(1):3–16.
Arcidiacono, Peter, Joseph V. Hotz, Arnaud Maurel and Teresa Romano. 2014. “Recovering Ex Ante Returns and Preferences for Occupations using Subjective Expectations Data.†National Bureau of Economic Research. Working Paper Series Nr. 20626.
Attanasio, Orazio P. and Katja M. Kaufmann. 2014. “Education choices and returns to schooling: Mothers’ and youths’ subjective expectations and their role by gender.†Journal of Development Economics 109:203–216.
- BBSR, Bundesinstitut für Bau-Stadt-und Raumforschung. 2013. “Raumordnungsregionen (ROR).†http: //www.bbsr.bund.de/BBSR/DE/Raumbeobachtung/Raumabgrenzungen/Raumordnungsregionen/raumordnungsregionen_node.html Belzil, Christian. 2007. “The return to schooling in structural dynamic models: a survey.†European Economic Review 51(5):1059–1105.
Paper not yet in RePEc: Add citation now
Bettinger, Eric P., Bridget Terry Long, Philip Oreopoulos and Lisa Sanbonmatsu. 2012. “The Role of Application Assistance and Information in College Decisions: The H&R Block FAFSA Experiment.†Quarterly Journal of Economics 127(3):1205–1242.
Bond, Timothy N., George Bulman, Xiaoxiao Li and Jonathan Smith. 2016. “Updating Human Capital Decisions: Evidence from SAT Score Shocks and College Applications.†MPRA Paper No. 72497.
- Borghans, Lex, Angela L. Duckworth, James J. Heckman and Bas ter Weel. 2006. “The Economics and Psychology of Personality Traits.†Journal of Human Resources 43(4):972–1059.
Paper not yet in RePEc: Add citation now
Borghans, Lex, Huub Meijers and Bas Ter Weel. 2006. “The Role of Noncognitive Skills in Explaining Cognitive Test Scores.†Economic Inquiry 46(1):2–12.
Bound, John and Sarah E. Turner. 2011. Dropouts and Diplomas. The Divergence in Collegiate Outcomes. In Handbook of the Economics of Education, ed. Eric A. Hanushek, Stephen Machin and Ludger Woessmann. Vol. 4 Elsevier B.V. pp. 573–613.
Bulman, George. 2015. “The Effect of Access to College Assessments on Enrollment and Attainment.†American Economic Journal: Applied Economics 7(4):1–36.
Card, David. 2001. “Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems.†Econometrica 69(5):1127–1160.
Carneiro, Pedro, Karsten T. Hansen, James J. Heckman and Pedro Carneiro. 2003. “Estimating distributions of treatment effects with an application to the returns to schooling and measurement of the effects of uncertainty on college choice.†International Economic Review 44(2):361–422.
Castex, Gonzalo. 2015. “College risk and return.†Working Paper, Central Bank of Chile.
Christofides, Louis N., Michael Hoy, Joniada Milla and Thanasis Stengos. 2015. “Grades, aspirations and post-secondary education outcomes.†Canadian Journal of Higher Education 45(1):48–82.
Cobb-Clark, Deborah A. 2015. “Locus of control and the labor market.†IZA Journal of Labor Economics 4(3):1–19.
Coleman, Margo and Thomas DeLeire. 2003. “An Economic Model of Locus of Control and the Human Capital Investment Decision.†Journal of Human Resources 38(3):701–721.
Comay, Yochanan, Arie Melnik and Mosche A. Pollatschek. 1973. “The Option Value of Education and the Optimal Path for Investment in Human Capital.†International Economic Review 14(2):421–435.
- Costa, Paul Jr. and Robert McCrae. 1992. “Four ways five factors are basic.†Personality and Individual Differences 13(6):653–665.
Paper not yet in RePEc: Add citation now
Cunha, Flavio and James J. Heckman. 2007. “Identifying and Estimating the Distributions of Ex Post and Ex Ante Returns to Schooling.†Labour Economics 14(6):870–893.
Cunha, Flavio, James J. Heckman and Salvador Navarro. 2005. “Separating uncertainty from heterogeneity in life cycle earnings.†Oxford Economic Papers 57(2):191–261.
D’Haultfoeuille, Xavier and Arnaud Maurel. 2013. “Inference on an extended Roy model, with an application to schooling decisions in France.†Journal of Econometrics 174(2):95–106.
Dohmen, Thomas, Armin Falk, David Huffman and Uwe Sunde. 2010. “Are Risk Aversion and Impatience Related to Cognitive Ability?†American Economic Review 100(3):1238–1260.
Dohmen, Thomas, Armin Falk, David Huffman, Uwe Sunde, Jürgen Schupp and Gert G. Wagner. 2011. “Individual risk attitudes: Measurement, determinants, and behavioral consequences.†Journal of the European Economic Association 9(3):522–550.
Finkelstein, Amy and Kathleen McGarry. 2006. “Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market.†American Economic Review 96(4):938–958.
Foley, Kelly, Giovanni Gallipoli and David A. Green. 2014. “Ability , Parental Valuation of Education and the High School Dropout Decision.†Journal of Human Resources 49(4):906–944.
Fossen, Frank M. and Daniela Glocker. 2014. “Stated and revealed heterogeneous risk preferences in educational choice.†IZA DP 7950.
- French, Eric B. and Christopher R. Taber. 2011. “Identification of models of the labor market.†Handbook of Labor Economics 4:537–617.
Paper not yet in RePEc: Add citation now
- Greene, William H. 2012. Econometric Analysis. 7 ed. Pearson Education Limited. Edinburgh Gate, Harlow.
Paper not yet in RePEc: Add citation now
- Hahn, Elisabeth, Juliana Gottschling and Frank M. Spinath. 2012. “Short measurements of personality -Validity and reliability of the GSOEP Big Five Inventory (BFI-S).†Journal of Research in Personality 46(3):355–359.
Paper not yet in RePEc: Add citation now
Hastings, Justine S., Christopher A. Neilson, Anely Ramirez, Seth D. Zimmerman and Seth D. Zimmermann. 2016. “(Un)informed College and Major Choice: Evidence from Linked Survey and Administrative Data.†Economics of Education Review 51:136–151.
- Huntington-Klein, Nick. 2015a. “Educational Choice: Subjective Data and Consumption Value.†WP.
Paper not yet in RePEc: Add citation now
Huntington-Klein, Nick. 2015b. “Subjective and projected returns to education.†Journal of Economic Behavior & Organization 117:10–25.
Huntington-Klein, Nick. 2016. ““(Un)informed College and Major Choiceâ€: Verification in an Alternate Setting.†Economics of Education Review 53:159–163.
Hussey, Andrew J. and Omari H. Swinton. 2011. “Estimating the ex ante Expected Returns to College.†American Economic Review: Papers and Proceedings 101(3):598–602.
Jaik, Katharina and Stefan C. Wolter. 2016. “The Influence of Locus of Control on Delaying Educational Decisions.†IZA Discussion Paper No. 10191.
Jensen, R. 2010. “The (Perceived) Returns to Education and the Demand for Schooling.†Quarterly Journal of Economics 125(2):515–548.
Keller, TamaÌs and Guido Neidhöfer. 2014. “Who Dares, Wins? A sibling analysis of tertiary education transition in Germany.†SOEPpapers 713.
Manski, Charles F. 1989. “Schooling as experimentation: a reappraisal of the postsecondary dropout phenomenon.†Economics of Education Review 8(4):305–312.
- Milla, Joniada. 2014. “Tertiary Education Choices under Uncertainty.†Working Paper.
Paper not yet in RePEc: Add citation now
- Obama, Barack. 2014. “State of the Union Address.â€. http://www.whitehouse.gov/the-press-office/2014/01/28/president-barack-obamas-state-union-address Oreopoulos, Philip and Kjell G. Salvanes. 2011. “Priceless: The Nonpecuniary Benefits of Schooling.†Journal of Economic Perspectives 25(1):159–184.
Paper not yet in RePEc: Add citation now
Papke, Leslie E. and Jeffrey M. Wooldridge. 1996. “Econometric methods for fractional response variables with an application to 401(k) plan participation rates.†Journal of Applied Econometrics 11(6):619–632.
Papke, Leslie E. and Jeffrey M. Wooldridge. 2008. “Panel data methods for fractional response variables with an application to test pass rates.†Journal of Econometrics 145(1-2):121–133.
Piatek, Rèmi and Pinger, Pia R. 2015. “Maintaining (Locus of) Control? Data Combination for the Identification and Inference of Factor Structure Models.†Journal of Applied Econometrics 31:734–755.
- Pinger, Pia R. 2015. “Understanding the Mechanisms behind Intergenerational Effects of Economic Distress.†Working Paper.
Paper not yet in RePEc: Add citation now
- Rotter, Julian B. 1966. “Generalized Expectancies for Internal Versus External Control of Reinforcement.†Psychological Monographs 80(1):1–28.
Paper not yet in RePEc: Add citation now
- Statistisches Bundesamt. 2011. Die Neue Berufsbildungsstatistik. Technical report Statistisches Bundesamt, Wiesbaden.
Paper not yet in RePEc: Add citation now
- Statistisches Bundesamt. 2013. Berufsbildung auf einen Blick. Technical report Statistisches Bundesamt, Wiesbaden.
Paper not yet in RePEc: Add citation now
- Statistisches Bundesamt. 2014. Schulen auf einen Blick. Technical report Statistisches Bundesamt, Wiesbaden.
Paper not yet in RePEc: Add citation now
Stinebrickner, Ralph and Todd Stinebrickner. 2012. “Learning about academic ability and the college dropout decision.†Journal of Labor Economics 30(4):707–748.
Stinebrickner, Ralph and Todd Stinebrickner. 2014a. “A Major in Science? Initial Beliefs and Final Outcomes for College Major and Dropout.†Review of Economic Studies 81(1):426–472.
Stinebrickner, Ralph and Todd Stinebrickner. 2014b. “Academic Performance and College Dropout: Using Longitudinal Expectations Data to Estimate a Learning Model.†Journal of Labor Economics 32(3):601–644.
Taber, Christopher R. 2000. “Semiparametric identification and heterogeneity in discrete choice dynamic programming models.†Journal of Econometrics 96(2):201–229.
Taber, Christopher R. 2001. “The Rising College Premium in the Eighties: Return to College or Return to Unobserved Ability?†Review of Economic Studies 68(3):665–691.
- Tolsma, Jochem, Ariana Need and Uulkje De Jong. 2010. “Explaining participation differentials in Dutch higher education: The impact of subjective success probabilities on level choice and field choice.†European Sociological Review 26(2):235–252.
Paper not yet in RePEc: Add citation now
Trachter, Nicholas. 2015. “Stepping stone and option value in a model of postsecondary education.†Quantitative Economics 6(1):223–256.
Turner, Sarah E. 2004. Going to College and Finishing College Explaining Different Educational Outcomes. In College Decisions: How Students Actually Make Them and How They Could, ed. Caroline Hoxby. University of Chicago Press for NBER.
Venti, Steven F. and David A. Wise. 1983. “Individual attributes and self-selection of higher education: College attendance versus college completion.†Journal of Public Economics 21(1):1–32.
Wiswall, Matthew and Basit Zafar. 2015a. “Determinants of college major choice: Identification using an information experiment.†Review of Economic Studies 82(2):791–824.
Wiswall, Matthew and Basit Zafar. 2015b. “How Do College Students Respond to Public Information about Earnings?†Journal of Human Capital 9(2):117–169.
Wölfel, Oliver and Guido Heineck. 2012. “Parental risk attitudes and children’s secondary school track choice.†Economics of Education Review 31(5):727–743.
Zachary, Bleemer and Basit Zafar. 2015. “Intended College Attendance: Evidence from an Experiment on College Returns and Cost.†IZA DP No. 9445.
Zafar, Basit. 2011a. “Can Subjective Expectations Data be used in Choice Models? Evidence on Cognitive Biases.†Journal of Applied Econometrics 26(3):520–544.
- Zafar, Basit. 2011b. “How Do College Students Form Expectations?†Journal of Labor Economics 29(2):301–348. Supplementary Material A Additional derivations A.1 Altonji-Elder-Taber with continuous explanatory variable We estimate models (1) and (5) jointly, imposing the following structure on the unobservables (Ï…i, ϵi) ∼ Φ2(0, 0, 1, 1, Ï), (7) where Φ2() denotes the bivariate normal distribution, and its arguments are the two errors’ means, variances, and their correlation. In other words, we estimate probit models for all outcomes di with pi as a normal endogenous explanatory variable [denoted probit eev hereafter].
Paper not yet in RePEc: Add citation now