Table 4

Single Major Choice- Estimation of Homogeneous Preferences

 Full SampleDeclaredcWCAS Majord
 Preference Dataa
(1)		Choice Datab
(2)		Preference Data
(3)		Preference Data
(4)		Choice Data
(5)
Δμ1 for graduating within four years0.083
(0.607)		5.96***
(2.00)		0.049
(1.14)		−0.341
(0.852)		5.99***
(2.04)
Δμ2 for graduating with a GPA of ≥3.50.747**
(0.364)		−0.51
(1.08)		0.398
(0.460)		0.814**
(0.397)		−0.909
(1.21)
Δμ3 for enjoying the coursework3.08***
(0.333)		7.55***
(1.46)		3.20***
(0.435)		2.88***
(0.350)		714***
(1.51)
γ1 for hours/week spent on coursework0.011
(0.009)		0.005
(0.027)		0.0001
(0.012)		0.013
(0.010)		0.007
(0.028)
Δμ4 for approval of parents and family1.30***
(0.360)		4.96***
(1.10)		0.595
(0.475)		1.18***
(0.390)		4.82***
(1.13)
Δμ5 for finding a job upon graduation0.103
(0.338)		1.02
(0.791)		0.904**
(0.444)		0.415
(0.406)		1.68**
(0.820)
Δμ6 for enjoying work at available jobs1.36***
(0.288)		3.85***
(1.25)		1.86***
(0.424)		1.637***
(0.335)		4.06***
(1.27)
Δμ7 for reconciling family and work at jobs0.295
(0.378)		−0.111
(1.02)		0.184
(0.449)		0.54
(0.406)		0.18
(1.07)
γ2 for hours/week spent at work−0.002
(0.007)		0.030*
(0.016)		−0.007
(0.009)		−0.003
(0.008)		0.022
(0.017)
γ3 for the social status of available jobse0.913***
(0.234)		1.13*
(0.581)		0.744**
(0.296)		1.075***
(0.248)		1.24**
(0.600)
γ4 for expected Income at the age of 303.10E-07
(7.05E-07)		−1.02E-07
(1.84E-06)		2.03E-09
(9.62E-07)		2.04E-07
(6.54E-07)		−5.26E-07
(1.88E-06)
Log-likelihood−1403.58−163.88−762.33−1125.15−151.6
Number of individuals16116190161161
Number of choice situationsf12871617181127161

  • Notes:

  • Maximum Likelihood estimates of choice model.

  • ↵* Significant at 10 percent;

  • ↵** at 5 percent;

  • ↵*** at 1% percent; robust standard errors in parentheses.

  • ↵a Using preference ranking data to estimate the choice model.

  • ↵b Using stated (intended) choice data to estimate the choice model.

  • ↵c Restricting to the sample of students who had officially declared their major at the time of the survey.

  • ↵d Restricting the sample to observations that include WCAS majors only (non-WCAS majors are removed).

  • ↵e social status is on a scale of 1–8 (8 is highest status); normalized to 0.1–0.8.

    All other variables (except income and hours/week) are probabilities between 0 and 1.

  • ↵f Each student has n – 1 choice situations for a choice set of size n.