
handle: 2433/24844
While numerous studies have specifically examined the role of education as an investment, a signal, or a consumption, this paper addresses another important aspect of education: it provides people with prospects for their future. Through education, people become able to obtain information about their own abilities and aptitudes, which facilitates their choice of a field in which they can excel. A skill-acquisition mechanism based on this aspect of education is presented, in which people who are uncertain about their educational outcomes are sorted into distinct skill-learning paths. An educational choice depends not only on what one can expect from acquiring a particular skill, but also on the variety of skills and the proximity among skills.
330, skill variety, education under uncertainty, skill acquisition mechanism
330, skill variety, education under uncertainty, skill acquisition mechanism
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