We develop a model in which many heterogeneous agents invest in human capital as they compete for better college admission slots or employment opportunities. The model provides theoretical predictions about how affirmative action or preferential treatment policies change the distribution of...

We analyze an economy populated by a sequence of generations who decide over their consumption and investment in human capital of their immediate descendants. The objective of the paper is twofold: firstly, to identify the impact of strategic interactions between consecutive generations on the...