The Korean Economic Review
Being Knowledgeable or Sociable? Different Patterns of Human Capital Development and Evaluation in C
Changhui Kang (Chung-Ang University) and Sam-Ho Lee (Korea University)Year 2015Vol. 31No. 1
This paper develops a model of college admissions that emphasizes the role of collegeadmissions as a human capital evaluation method. Given multiple dimensions of humancapital, different patterns of human capital evaluation and development can emerge asmultiple equilibria. These equilibria with a varying emphasis on different aspects of humancapital can match an observed difference in college admission patterns between East Asiancountries and the U.S. These different patterns are not Pareto ranked. Empiricalimplications of model are also discussed.