Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Social and Behavioral Sciences
Analysis Of Two-Year Colleges: Transfer, Retention And Graduation, Darshak P. Patel
Analysis Of Two-Year Colleges: Transfer, Retention And Graduation, Darshak P. Patel
University of Kentucky Doctoral Dissertations
Investment in higher education is typically considered as a static discrete-choice problem where students make post-secondary education choices usually right after high school (Heckman et al., 2006). This is largely aligned with Becker’s human capital theory. As Becker’s theory holds, students’ decisions can alter with the arrival of new information (Weisbrod, 1964). By relaxing the assumption certainty in the human capital model, student education decisions can be modeled using Weisbrod’s option value theory. According to this theory, students reevaluate their lifetime-utility maximizing decisions based on new information acquired in a sequential nature. Students face large uncertainties due to unexpected positive …