The Decision Making Process Of Year 13 Students Essay

941 Words Nov 14th, 2016 4 Pages
To begin with, information asymmetry inhibits students from making informed choices. In a study on the decision-making process of year-13 students (Ertl, Carasso, & Holmes, 2013) demonstrates that information deficit may influence students’ choices. Specifically, students may know little about the “complex educational and financial matters in a quasi-market that was evolving around them” (2013), this ignorance may result in an overly optimistic expectation of benefits and costs, especially with the government’s propaganda of ‘graduate premium’. Furthermore, signaling theory to a certain extent redresses the problems caused by asymmetric information during job interviews. Since employers exploit education as a signal to identify capable applicants, school leavers tend to excel themselves by presenting higher degrees. Successively, more people, including university leavers, attend universities. Additionally, upgrade of consumption hierarchy enables students to involve in higher education. According to Marx (1976), the public would pursue means of production for development instead of for survival once the society becomes abundant enough. Though lacking relevant research, it is reasonable for a proportion of applicants from Britain, one of the oldest developed nations possessing five decades’ history of higher education, entering into universities for personal development. As evident is that Chevalier and Lindley (2009) found that even though suffering from skill mismatch, only…

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