This paper investigates how exposure to higher-achieving male and female peers in university affects students’ major … choices and labor market outcomes. For identification of causal effects, we exploit the random assignment of students to …

achievement. We exploit random assignment of students to university sections and find that students perform better in the presence … of more persistent peers and more risk-averse peers. In particular, low-persistence students benefit from highly …-persistent peers without devoting additional efforts to studying. However, highly-persistent students are not affected by the …

achievement. We exploit random assignment of students to university sections and find that students perform better in the presence … of more persistent peers and more risk-averse peers. In particular, low-persistence students benefit from highly …-persistent peers without devoting additional efforts to studying. However, highly-persistent students are not affected by the …

heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income …