A Regime Switching Model of Schooling Choice as a Job Search Process

Yong Hyun Shin and Ho-Seok Lee

Advances in Mathematical Physics, 2015, vol. 2015, issue 1

Abstract: We propose a regime switching model of schooling choice as a job search process. We adopt a two‐state Markov process and the derived coupled Bellman equations are solved by seeking the root of an auxiliary algebraic equation. Some numerical examples are also considered.

Date: 2015
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https://doi.org/10.1155/2015/475279

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jnlamp:v:2015:y:2015:i:1:n:475279

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