common knowledge. Graduates and graduate jobs are matched by tournament. In laissez faire, only the rich can buy enough … some of the rich buy too much education, and some of the graduates have lower ability than some of the non-graduates … the same quality are assigned to graduates with the same education but different ability. Competition among employers will …

high school classmates (peers), after controlling for school and teachers fixed effects. We find that male students …

Students' choices in education can only be based on expected outcomes. Econometric models that infer expectations based …

graduates from secondary education with a vocational and a general curriculum. The wage gap initially increased and then … between workers and firms that worked out favourably for vocational graduates …

administrative records about high school, college admission, college attendance and tax returns. Students with score just above the … admission threshold have 52% higher yearly income with respect to just-below-threshold students. This premium is equivalent to a … explore the counterfactual college career of not admitted students and the potential mechanisms underlying the estimated …