Abstract
Purpose The purpose of this study is to hypothesize that cognitive biases such as nostalgia, rosy retrospection, overconfidence, fading-affect bias and prospect theory affect how to serve in the military. The behaviors of those expecting military service and those who have completed the service differ significantly in evaluating the self and social value of the human capital during the military service. This difference corresponds to the predictions of the cognitive-bias literature. The authors test propositions in option framework. This study’s experimental design proposes a novel military system, a hybrid of conscription and voluntary systems. This study’s results are consistent with the hypothesis, option theory and behavioral economics literature.
Highlights
In some countries, it is mandatory but luckydrawed in some other countries
To our knowledge, there is no study on how it is designed from the perspective of the supply side of armed forces resources even given the unavoidable conscription situations such as in the Korean Peninsula
To evaluate the hypothesis, we propose a novel military system that gives conscripted soldiers an option at the end of a certain month to choose from two alternatives: leave the military immediately or serve more months with additional monetary compensation
Summary
It is mandatory but luckydrawed in some other countries It requires more than 11 years in a certain country or less than 1 year in many countries. Sometimes it goes to both genders or only to men. There are lots of studies on how to recruit and retain (Moskos, 1977; Stafford and Griffis, 2008) and how long it should be (Warren, 1962; Kestnbaum, 2000). To our knowledge, there is no study on how it is designed from the perspective of the supply side of armed forces resources even given the unavoidable conscription situations such as in the Korean Peninsula
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Journal of Derivatives and Quantitative Studies: 선물연구
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
