We study marital sorting on academic qualifications and latent ability in an equilibrium marriage market model using … marriage market, and affected marital outcomes of individuals whose qualification attainment were unaffected. We also decompose … the difference in marriage probabilities between unqualified individuals and those with basic qualifications into causal …

risk sharing is one benefit to marriage it is also limited by divorce risk. With search in the marriage market there may be … multiple equilibria diering not only in divorce rates but also in the role of marriage in providing informal insurance …

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … positive or a negative education premium. In the same model a positive intertemporal wedge is optimal. A set of generalizations …, including non-observability of education, non-observability of consumption, and temporal resolution of uncertainty, are then …

Justification for policies to encourage investments in education, particularly for individuals at the lower end of the … potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …