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Note that most of the code cells are hidden from this notebook for a better reading flow. Check out the notebook in the documentation folder in the Github repository for more details.
In the following, we will replicate the base and extended model from Keane and Wolpin (1997) and present occupational choice of agents from the age of sixteen to 65.
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Keane, M. P. and Wolpin, K. I. (1997). The Career Decisions of Young Men. Journal of Political Economy, 105(3): 473-522.