Signaling, in regard to its role of information transmission, has been well understood by existing literature, but its e¢´ect on the decision to invest in content has not been thoroughly studied. This paper analyzes a model of pre-investment and subsequent costly signaling to reconsider the...

This paper proposes an endogenous growth model where human capital is the engine of growth and can be transferred across countries via costly foreign education. Importing advanced knowledge by students abroad can improve a developing country¡¯s chance of catching up with a developed host...

This paper develops a dynamic model of the decisions regarding the quantity and quality of children, predicated on two premises: (1) the quality of children is uncertain when parents make a human capital investment decision, and (2) the quality distributions of two children of a woman are less...