Analysis of Undergraduate Decision-making for Further Education Based on Behavioral Economics Theory

Abstract

With the economic development and improvement of education in China, the scale of China's postgraduate education has become larger and larger. The choice of further education or direct employment is increasingly a major concern for most undergraduates. Therefore, this paper analyzes the different effects of irrational factors in the decision-making process of college students for further education at various stages under the framework of behavioral economics such as Prospect Theory, Psychological Account Theory, Procrastination Theory, and Herd Effect. Based on the analysis results, this paper puts forward corresponding suggestions from the school, society and the students themselves, all parties working together to guide college students to find their own career planning.