Academic and non-academic investments at university: The role of expectations, preferences and constraints

Adeline Delavande, Emilia Del Bono and Angus Holford

Journal of Econometrics, 2022, vol. 231, issue 1, 74-97

Abstract: This paper estimates a discrete choice model of time allocation decisions made by university students. We consider investments in academic and non-academic activities, such as job placements or volunteering. Identification is achieved using data collected through a recent survey of UK university students on subjective expectations about the returns to these activities, and the enjoyment students derive from them. Unobserved heterogeneity in the choice set is addressed using a sufficient set logit method. The analysis reveals significant ethnic differences in the level of investments, expected academic and labour market returns, and enjoyment of academic and non-academic activities. Simulations suggest that existing constraints play an important role in explaining ethnic gaps in investments.

Keywords: Subjective expectations; Choice set heterogeneity; Higher education; Ethnic gap (search for similar items in EconPapers)
JEL-codes: C81 D84 I23 I24 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:econom:v:231:y:2022:i:1:p:74-97

DOI: 10.1016/j.jeconom.2020.03.019

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