How strong are peer effects on the beliefs and spending decisions of individuals? We use a randomized control study in which treated households are told about either average income or debt of individuals like them to assess how peer effects influence their beliefs and spending. The information...

"Years after the Great Recession, the economy is still weak, and an unprecedented number of workers have sunk into long spells of unemployment, increasingly unlikely to get another good job in their lifetimes. Based on a careful crossnational comparison, "Cut Loose" describes the experiences of...

We develop a multi-agent model of the education production function where investments of students, parents, and teachers are linked to the presence of minorities in the classroom. We then test the key implications of this model using rich survey data and a mandate to randomly assign students to...

Each year, the average age of new smokers decreases in Indonesia, and at least one student in the classroom is a smoker. However, previous literature on adolescent smoking that focused on emotion and peer relationship remains largely underexplored. This study aimed to examine the effects of the...