Abstract
This paper develops a model of college admissions that emphasizes the role of college admissions as a human capital evaluation method. Given multiple dimensions of human capital, different patterns of human capital evaluation and development can emerge as multiple equilibria. These equilibria with a varying emphasis on different aspects of human capital can match an observed difference in college admission patterns between East Asian countries and the U.S. These different patterns are not Pareto ranked. Empirical implications of model are also discussed.
| Original language | English |
|---|---|
| Pages (from-to) | 57-87 |
| Number of pages | 31 |
| Journal | Korean Economic Review |
| Volume | 31 |
| Issue number | 1 |
| Publication status | Published - 2015 Jun 1 |
Bibliographical note
Publisher Copyright:© 2015, Korean Economic Association. All rights reserved.
Keywords
- Congnitive skills
- Coordination
- Human capital evaluation
- Multiple equilibria
- Non-cognitive skills
- University admissions
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)