show that individuals with temporary disadvantages must exert greater effort to gain access to elite education. This … year become the superstars. We also show that if young students discount the future "too much", high requirements to elite … education can increase expected life-time welfare for disadvantaged students. …

show that individuals with temporary disadvantages must exert greater effort to gain access to elite education. This … year become the superstars. We also show that if young students discount the future “too much”, high requirements to elite … education can increase expected life-time welfare for disadvantaged students. …

the best football player in the world). We develop a multi-period skill formation model with selection into elite … education. We show that those born late (underdogs) need to work harder to be selected for elite educational programs. However …

the best football player in the world). We develop a multi-period skill formation model with selection into elite … education. We show that those born late (underdogs) need to work harder to be selected for elite educational programs. However …

ability. We show that compulsory schooling can move a society from elite education to mass education, which then triggers …