Bell, Clive; Gersbach, Hans; Schneider, Maik T. - Institute for the Study of Labor (IZA) - 2010
This paper investigates how families make decisions about the education of juveniles. The decision problem is analyzed in three variations: a 'decentralized' scheme, in which the parents control the purse-strings, but the children dispose of their time as they see fit; a 'hierarchical' scheme,...