: efficiently or inefficiently. Under strong, but standard, assumptions regarding marriage market equilibria, marital sorting … efficient or not. We develop a new likelihood-based metric to compare marriage market fits under the two alternative behavioral …

Longitudinal Survey of Youths which we follow from 16 to 28. We discuss the evolution of family income and ability effects where … component correlated with family income and background variables. We find that the individual cognitive-technical ability …

effects of real (as opposed to relative) family income on education have practically vanished between the early 1980's and the … early 2000's. After conditioning on a cognitive ability measure (AFQT), family background variables and unobserved … unobserved characteristics, a $300,000 differential in family income generated more than 2 years of education in the early 1980's …