Occupational Entry and Uncertainty: Males Leaving High School
构建了一个不确定性下的职业选择模型，利用1951-1969年马里兰州高中毕业生的数据，发现提高收入均值、降低收入方差会显著增加选择该职业的概率，且学校质量和家庭投入也影响职业选择。
This paper develops an empirically estimable model of occupational choice under uncertainty, given an individual's risk preferences and human capital and given the moments of the distribution of earnings within various alternative occupations. The model is estimated using data on entry-level occupational choices of high school graduates in Maryland school districts from 1951 through 1969. Our results confirm that increasing the mean and reducing the second moment of the earnings distribution significantly increases the log odds of selecting the occupation. In addition, occupational choice is affected by school quality and home inputs.