We use unique data from the Berea Panel Study to characterize how much earnings uncertainty is present for students at … expectations data, we find that roughly two-thirds of the income uncertainty present at the time of entrance remains at the end of … college. Taking advantage of a variety of additional survey questions, we provide evidence about how the resolution of income …

outcomes, knowledge of the causal effect of the most fundamental input in the education production function - students' study …

best viewed as the end result of a learning process. We find that students enter college as open to a major in math or … science as to any other major group, but that a large number of students move away from math and science after realizing that … because students realize that their ability in math/science is lower than expected rather than because students realize that …

-five percent of the dropout that occurs in the first two years of college can be attributed to what students learn about their … could influence dropout. Our simulations show that students who perform poorly tend to learn that staying in school is not …

Taking advantage of unique longitudinal data, we provide the first characterization of what college students believe at … of why students hold the initial beliefs about majors that they do. The data collection and analysis are based directly … that students enter school quite optimistic/interested about obtaining a science degree, but that relatively few students …

not detectable by existing mean-based tests. Beliefs about future income are found to become more accurate as students …

observed patterns of interaction. We find that, while much sorting exists at all stages of college, black and white students … friends as randomly assigned roommates of the same race. Further, we find that, in the long-run, white students who are … randomly assigned black roommates have a significantly larger proportion of black friends than white students who are randomly …

We use unique data to examine how college students from low income families form expectations about academic ability … characterize beliefs. At the time of entrance, students tend to substantially discount the possibility of bad grade performance …, students update their beliefs in a manner which takes into account both initial beliefs and new information, with heterogeneity …

-out decisions of some students, the large majority of attrition of students from low income families should be primarily attributed … sources do not provide a direct way of identifying which students are credit constrained. This has forced researchers to adopt …