This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half of all college students fail to earn a bachelor's degree, we study a model of risky college completion. The central idea is that students drop out of college mainly because...

This paper studies the effect of graduating from college on lifetime earnings. We develop a quantitative model of college choice with uncertain graduation. Departing from much of the literature, we model in detail how students progress through college. This allows us to parameterize the model...

This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half of all college students fail to earn a bachelor's degree, we study a model of risky college completion. The central idea is that students drop out of college mainly because...

This paper investigates the impact of studying the first-choice university subject on dropout and switching field of study for a cohort of students in Germany. Using detailed survey data, and employing an instrumental variable strategy based on variation in the local field of study availability,...

An important feature of post-secondary schooling is the experimentation that accompanies sequential decision-making. Specifically, by entering college, a student gains the option to decide at a future time whether it is optimal to remain in college or to drop out, after resolving uncertainty...

We examine whether and how teachers' major fields of study affect students' achievement, exploiting within-student variation across subfields in natural science (i.e., physics, chemistry, biology, and Earth science). Using middle-school students' data from the Trends in International Mathematics...

Using an originally constructed dataset that follows 30,000 Italian individuals from high school to the labor market, we analyze whether the gender composition of peers in high school affected their choice of college major, their academic performance and their labor market income. We exploit the...

While there has been a substantial increase in the return to college (the college premium), college attainment has stagnated. We show that these facts can be reconciled by allowing for uncertainty in college payoffs, in particular around college completion and earnings, with borrowing. With...

Although the proportion of students enrolled in college increased in the last decades, students from non-college family backgrounds remain underrepresented in higher education around the world. This study sheds light on whether the provision of information in a randomized controlled trial with...

We examine whether and how teachers' major fields of study affect students' achievement, exploiting within-student variation across subfields in natural science (i.e., physics, chemistry, biology, and Earth science). Using middle-school students' data from the Trends in International Mathematics...