@TechReport{Jones2020mismatch,
  author      = {Jones, Sam and Santos, Ricardo and Xirinda, Gimelgo},
  title       = {Misinformed, mismatched, or misled? {Explaining} the gap between expected and realized graduate earnings in {Mozambique}},
  institution = {UNU-WIDER (World Institute for Development Economic Research)},
  year        = {2020},
  type        = {Working paper},
  number      = {47/2020},
  abstract    = {Inaccurate expectations of future wages are found in many contexts. Yet, existing studies overwhelmingly refer to high-income countries, and there is little evidence regarding the sources of expectational errors. Based on a longitudinal survey of graduates from the six largest universities in Mozambique, we find the gap between expected and realized first earnings are extremely large. Applying a novel decomposition procedure, we find these errors are not driven by incorrect information about labour market returns. Job mismatches of various kinds account for over one-third of the total expectational error, while the remaining error reflects bias from misleading reference points (superstar salaries). While this suggests a need for greater transparency regarding levels of remuneration, we find no evidence that optimistic expectations are associated with poorer labour market outcomes.},
  keywords    = {Education, Labour markets},
  url         = {https://igmozambique.wider.unu.edu/working-paper/misinformed-mismatched-or-misled},
}

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