Studies on the effect of class size on student achievement typically find that disadvantaged students benefit more from reduced class size than others. To better understand this differential impact, we analyze changes in the learning environment due to class size, and behavioral responses to...

This paper describes and analyzes different financial schemes to promote lifelong learning. Considered are financial instruments to stimulate successful early learning, financial aid schemes and subsidization mechanisms. Theoretical analyses about funding of early learning have mainly focused on...

According to Blau and Kahn (1996) international differences in male wage inequality cannot be explained by a simple model of supply and demand for skill. We provide compelling evidence that this conclusion is due to employing an inappropriate measure of skill. Their measure is based on the...

In this paper we focus on education as a private decision to invest in "human capital" and the estimation of the rate of return to that private investment. While the literature is replete with studies that estimate the rate of return using regression methods where the estimated return is...

In this paper, a general specification of the wage equation is used to derive a marginal revenue equation for enterprise-related schooling. The optimal amount of investment in enterprise-related schooling is found by equating the marginal revenues and marginal costs. For the empirical analysis,...

In this paper we provide an analytical review of previous estimates of the rate of return on schooling investments and measure how these estimates vary by country, over time, and by estimation method. We find evidence reporting (or file drawer') bias in the estimates and, after due account is...

Theory predicts that default breach remedies are immaterial whenever contracting costs are negligible. Some experimental studies, however, suggest that in practice default rules do matter, as they may affect parties' preferences over contract terms. This paper presents results from an experiment...

This paper reports the findings of a meta-analysis of 37 papers with 75 results from ultimatum game experiments. We find that on average the proposer offers 40% of the pie to the responder. This share is smaller for larger pie sizes and larger when a strategy method is used or when subjects are...