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A Game Theoretic Approach to the Problem of Determining the Optimal Number of Years of Education

Macavei, Diana

Abstract Details

2011, Master of Science, University of Akron, Applied Mathematics.
Higher education leads to higher productivity and thus to higher income. The issue of the cost of higher education versus the economic return is addressed in this paper using a game theoretic approach. The game has two players: the worker and the government. Each has two choices: the worker can choose to get higher education or not and the government can choose to subsidize some portion of the schooling or not. Both players have the same goal which is to maximize their income. We find that if the taxation rate imposed by the government exceeds the ratio of the increment of net loss of income due to subsidy to the increment of net gain of income due to that subsidy, then the government should subsidize some portion of the education. We also confirm that the individual should continue education if the extra income in a lifetime is greater than the cost of schooling.
Gerald Young, Dr. (Advisor)
Curtis Clemons, Dr. (Advisor)
Timothy Norfolk, Dr. (Advisor)

Recommended Citations

Citations

  • Macavei, D. (2011). A Game Theoretic Approach to the Problem of Determining the Optimal Number of Years of Education [Master's thesis, University of Akron]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=akron1303158106

    APA Style (7th edition)

  • Macavei, Diana. A Game Theoretic Approach to the Problem of Determining the Optimal Number of Years of Education. 2011. University of Akron, Master's thesis. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=akron1303158106.

    MLA Style (8th edition)

  • Macavei, Diana. "A Game Theoretic Approach to the Problem of Determining the Optimal Number of Years of Education." Master's thesis, University of Akron, 2011. http://rave.ohiolink.edu/etdc/view?acc_num=akron1303158106

    Chicago Manual of Style (17th edition)