selection. Building on their framework we demonstrate that externalities between agents - an agent's utility upon accepting a … when the size of the externalities is arbitrarily small. Our result highlights the degree of control a principal has over …

-linked externalities (JLEs). JLEs emerge when wages exceed the opportunity cost of labor (labor externalities), or when there are social … gains from creating better jobs for some classes of worker, such as women or youth (social externalities). Like all … externalities, JLEs create a gap between private and social rates of return. Investments can be socially profitable (once the …

available. In this paper, we use nationally representative cohort data linked to administrative education records to study the …

dropping out of upper-secondary education. Further, for students who finish education we show that one month before termination …-making about human capital acquisition and labor market transition with important implications for education and labor market …