This paper models underclass social isolation as the loss of high-income role models and then studies the plausible conjecture that this isolation depresses the level of schooling chosen by underclass youth. It is found that although this conjecture stands in roughly calibrated simulations, it...

We introduce three definitions. First, we let a "basement" be a set of nodes and actions that supports at least one assessment. Second, we derive from an arbitrary basement its implied "plausibility" (i.e. infinite-relative-likelihood) relation among the game's nodes. Third, we say that this...