TY - UNPB

T1 - Education as a Participation Game

T2 - An Explanation for Educational Under-Investment

AU - Embrey, Iain

PY - 2019/1

Y1 - 2019/1

N2 - Individuals who under-invest in education experience negative outcomes along mostmeasurable dimensions. Although such under-investment is common, it is not adequately explained by existing economic theory. We disaggregate the canonical educational investment decision into a series of incremental educational opportunities, and thereby endogenously separate economic agents into high- and low-participation equilibria. We derive self-productivity in cognitive ability development, and we identify the effects of specific noncognitive skills. Our results suggest that early intervention should focus on children's noncognitive skills, whilst later intervention should not target disadvantaged individuals directly - it should focus instead on specified aspects of their educational provision.

AB - Individuals who under-invest in education experience negative outcomes along mostmeasurable dimensions. Although such under-investment is common, it is not adequately explained by existing economic theory. We disaggregate the canonical educational investment decision into a series of incremental educational opportunities, and thereby endogenously separate economic agents into high- and low-participation equilibria. We derive self-productivity in cognitive ability development, and we identify the effects of specific noncognitive skills. Our results suggest that early intervention should focus on children's noncognitive skills, whilst later intervention should not target disadvantaged individuals directly - it should focus instead on specified aspects of their educational provision.

KW - Education

KW - Human Capital

KW - Repeated Game

KW - Noncognitive Skills

KW - Sophistication

M3 - Working paper

BT - Education as a Participation Game

PB - Lancaster University, Department of Economics

CY - Lancaster

ER -