Andrews & Bradley have computed elasticities of the probability of entering each of a number of regimes with respect to individuals' expected average weekly wage over the life cycle. The mean value of the latter variable is £310 for males. The elasticities are as follows:
stay-on in non-vocational education
0.74
stay-on in vocational education
0.25
Youth Training
-0.59
employed with on-the-job training
0.19
employed with general skills training
0.09
unemployed
0.12
The above figures imply that, if two young men aspire to enter occupations whose expected weekly wage differ by £50, the probability that the young man with greater aspirations will choose to enter (at age 16) employment with on-the-job training is