Why do tertiary education graduates regret their study program? A comparison between Spain and the Netherlands

In this paper we investigate the determinants of regret of study program for tertiary education graduates in Spain and the Netherlands. These two countries differ in their educational system in terms of the tracking structure in their secondary education and the strength of their education-labor market linkages in tertiary education. Therefore, by comparing Spain and the Netherlands, we aim at learning about the consequences that the two educational systems might have on the regret of study program in tertiary education. Basing on the psychological literature on regret, we derive some expectations on the determinants of regret of study program. Results reveal that both, education track and education-labor mismatch of tertiary education, are important determinants of the likelihood of program regret. Results allow us to derive some policy recommendations on the tertiary education system.