A Regime Switching Model of Schooling Choice as a Job Search Process
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.
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Hindawi Limited
2015-01-01
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| Series: | Advances in Mathematical Physics |
| Online Access: | http://dx.doi.org/10.1155/2015/475279 |