We investigate how the benefits of publicly financed higher education in Turkey are distributed among students with different socioeconomic backgrounds. We use a dataset from a nationally representative sample of university entrance exam takers together with data on government subsidies to...

In this paper, we examine the college major choice decision in a risk and return framework using university entrance exam data from Turkey. Specifically we focus on the choice between majors with low income risk such as education and health and others with riskier income streams. We use a unique...

Over a century ago, Schumpeter (1911) described the entrepreneur as a creative, driven individual who finds new combinations of (factors) of production to develop a new product, corner a new market, or design a new technology and he famously attributed endogenous development to the creative acts...

Surveys of businessmen and anecdotal evidence blame intermediary agents (middlemen hired by corporations and individuals) for increasing corruption in the developing world. Although this problem has gained the attention of policy makers, there has been little formal analysis of it in the...