, 2004; Cunha, Heckman, and Navarro, 2004; Stange, 2008). Moreover, existing empirical
studies make non-veri�able assumptions …-processing rule has varied considerably
among studies of schooling behavior, and it�s not clear which is the correct one to use (given … schooling decisions. Because few studies collect
data on subjective beliefs, and even fewer follow the same respondents over …