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This study characterizes optimal policy in an endogenous growth model where heterogeneous individuals choose between entering the workforce as unskilled labor or pursuing education to become skilled. …
Discussion paper
In this paper, we show that gender gaps in performance observed in high-stakes exams, relative to low-stakes exams, are partially shaped by the context of exam preparation. We examine the role of …
Chasing and the house money effect are well-known phenomena in dynamic environments of risky activities such as investment decisions or gambling. Recent studies suggest that such behavior emerges …
Discussion paper