Konferenzbeitrag

Career choice under uncertainty

Contemporary theoretical literature on occupational choice consists mostly of models that treat choice outcomes as either deterministic or risky. This paper proposes taking a slightly more realistic perspective by constructing a general occupational choice model on the basis of the assumption that outcomes are partially uncertain such that some reward distributions are unknown. The change in perspective yields some major advantages: Learning and career trajectories, which in general cannot be generated by models with deterministic or risky rewards, become a natural feature of the dynamic solution of sequential occupational choice problems. Furthermore, earnings-puzzle-like observations can be explained by sufficiently high uncertainty aversion, as uncertainty aversion has a significant impact on learning. In addition, central model predictions are consistent with data on relative choice frequencies and enterprise death rates.

Sprache
Englisch

Erschienen in
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2016: Demographischer Wandel - Session: Occupational Choice and Job Mobility: Empirical Evidence ; No. D18-V2

Klassifikation
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Entrepreneurship

Ereignis
Geistige Schöpfung
(wer)
Konon, Alexander
Ereignis
Veröffentlichung
(wer)
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
(wo)
Kiel und Hamburg
(wann)
2016

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Konferenzbeitrag

Beteiligte

  • Konon, Alexander
  • ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft

Entstanden

  • 2016

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