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Being Knowledgeable or Sociable? Different Patterns of Human Capital Development and Evaluation in Cognitive and Non-cognitive Skills

Author

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  • Changhui Kang

    (Chung-Ang University)

  • Sam-Ho Lee

    (Korea University)

Abstract

This paper develops a model of college admissions that emphasizes the role of college admissions as a human capital evaluation method. Given multiple dimensions of human capital, different patterns of human capital evaluation and development can emerge as multiple equilibria. These equilibria with a varying emphasis on different aspects of human capital can match an observed difference in college admission patterns between East Asian countries and the U.S. These different patterns are not Pareto ranked. Empirical implications of model are also discussed.

Suggested Citation

  • Changhui Kang & Sam-Ho Lee, 2015. "Being Knowledgeable or Sociable? Different Patterns of Human Capital Development and Evaluation in Cognitive and Non-cognitive Skills," Korean Economic Review, Korean Economic Association, vol. 31, pages 57-87.
    • Handle: RePEc:kea:keappr:ker-20150630-31-1-03
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    References listed on IDEAS

    as
    1. Sam-Ho Lee, 2009. "Jumping The Curse: Early Contracting With Private Information In University Admissions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(1), pages 1-38, February.
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    5. Stacy Berg Dale & Alan B. Krueger, 2002. "Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1491-1527.
    6. Avery, Christopher & Fairbanks, Andrew & Zeckhauser, Richard, 2001. "What Worms for the Early Bird: Early Admissions at Elite Colleges," Working Paper Series rwp01-049, Harvard University, John F. Kennedy School of Government.
    7. Juster, F Thomas & Stafford, Frank P, 1991. "The Allocation of Time: Empirical Findings, Behavioral Models, and Problems of Measurement," Journal of Economic Literature, American Economic Association, vol. 29(2), pages 471-522, June.
    8. Hanming Fang, 2006. "Disentangling The College Wage Premium: Estimating A Model With Endogenous Education Choices," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 47(4), pages 1151-1185, November.
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    Cited by:

    1. Hyunkuk Cho, 2017. "The Effects of Fathers’ Working Hours on Youth Behavior: Evidence from a Change in the Standard Workweek," Korean Economic Review, Korean Economic Association, vol. 33, pages 295-324.
    2. Anel Ussenova & Nurlan Sailaubekov & Shynara Sarkambayeva & Magbat Spanov & Sadylbek Ussenov, 2023. "A New Approach for Measuring Human Capital and Business Activity at the Enterprises of Chemical and Petrochemical Industry," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 88-102.

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    More about this item

    Keywords

    Congnitive Skills; Non-cognitive Skills; University Admissions; Human Capital Evaluation; Multiple Equilibria; Coordination;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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