セミナーシリーズ
応用ミクロ経済学セミナー（2026.4.10）
Jay Kang（Assistant Professor at Institute of Economic Research of Kyoto University）
- 開催日：
- 2026年4月10日（金）10:30-12:00
- 場所：
- 京都大学 吉田キャンパス 経済研究所本館1階 106 会議室
- 言語：
- 英語
- コーディネーター：
- 山田 憲
タイトル: “The Parental Investment Rat Race”
Abstract:
Competition for limited seats in prestigious colleges generates a “rat-race” equilibrium effect, driving demand for parental investment. Using admissions cutoffs, I document that attending a more prestigious college tier yields a substantial initial income premium controlling for college entrance exam scores, with this gap widening over the lifecycle. I develop and estimate a dynamic tournament model where each household chooses tutoring quality, tutoring hours, and student self-study hours. The model explains persistently high educational investment despite modest effects on test score, as students maintain investment to avoid dropping to lower tiers. Using the estimated model, I find that substantial portion of tutoring is driven by the competition channel. Counterfactual analysis shows expanding elite college seats improves household welfare through reducing amount of tutoring expenditure and times.