Why do Chinese Students Study Economics at the University of Leicester A Behavioural Economic Analysis
Abstract
University of Leicester instead of working in China after graduation of their undergraduates. The model in this paper is a simple version of
value function including two variables: the loss aversion coefficient of the applicants and the probability of improvement in Times ranking of
the Leicester University. Furthermore, changes of those two variables influence the value of studying in the University of Leicester. By comparing the value of studying in Leicester and working in China, students who are gain seekers will choose to study in the University of Leicester and they have the optimal value function when probability of ranking improvement is 50%.
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DOI: http://dx.doi.org/10.70711/eer.v2i6.5441
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