ELI5: Explain Like I'm 5

Roy model

The Roy Model is a way of thinking about how someone makes a decision about going to school and choosing a career. Let's say you are a kid with a lot of different options in front of you, like going to college, working right away, or going to trade school. Each option has different benefits and costs, like how much money you would make, how much education you need, and how much you would enjoy the work.

The Roy Model says that you would make your decision based on the benefits and costs of each option, and how likely you are to succeed in each one. For example, if you think you would do really well in college and it would give you a better chance of getting a good job, then you might choose that option. But if you don't like school and think you could make good money in a trade, then you might choose that instead.

Basically, the Roy Model is a way of understanding how people make choices based on different factors, and how those choices affect their lives in the long run. It helps us understand why people make the decisions they do, and how we can help them make better choices for themselves.