We study the interaction between competitive markets that produce large but unequally distributed welfare gains and elections through which the poor majority can redistribute income away from the rich minority. In our simple laboratory democracy, subjects first earn their income by trading in a...

We conduct a randomized controlled trial with households of secondary school students in Bangladesh to investigate how parents adjust their investments in response to three educational interventions: an informational campaign about an educational phone application, an internet data subsidy, and...

Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...