Determinants of College Major Choice: Identification Using an Information Experiment
60 Pages Posted: 31 Aug 2011 Last revised: 30 Jan 2013
There are 3 versions of this paper
Determinants of College Major Choice: Identification Using an Information Experiment
Determinants of College Major Choice: Identification Using an Information Experiment
Determinants of College Major Choice: Identification Using an Information Experiment
Date Written: March 20, 2012
Abstract
This paper studies the determinants of college major choice using an experimentally generated panel of beliefs, obtained by providing students with information on the true population distribution of various major-specific characteristics. Students logically revise their beliefs in response to the information, and their subjective beliefs about future major choice are associated with beliefs about their own earnings and ability. We estimate a rich model of college major choice using the belief data. While earnings are a significant determinant of major choice, tastes -- which are heterogeneous -- are the dominant factor in the choice of major. We also investigate gender differences in major choice.
Keywords: college majors, information, uncertainty, risk, subjective expectations, marriage market returns, gender differences
JEL Classification: D81, D84, I21, I23, J10
Suggested Citation: Suggested Citation
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