Empirical studies on the relationship between income and happiness commonly use standard ordered response models, the most well-known representatives being the ordered logit and the ordered probit. However, these models restrict the marginal probability effects by design, and therefore limit the...

The German practice of compelling weak students to repeat a class has come under heavy criticism recently. Many observers fear that this practice is, at best, useless or even counterproductive. However, little is known so far on the consequences of having to repeat a class, as compared to be...