In the last decades, consumer debt experienced a marked increase in the United States, Latin America and other emerging countries, spurring a debate about the real costs and benefits of household credit. This paper explores the psychological costs of over indebtedness. Using a unique dataset...

In this paper we analyze the effect of school entry and exit in the Chilean market- oriented educational system. During the period 1994-2012, nearly 2,150 schools closed (more than 2,800 if pre-K and kindergarten centers are included), around one-fifth of the current stock of schools. At the...

In the last decades, our understanding of human well-being and development has shifted from a traditional focus on income and consumption towards a richer multidimensional approach. This shift has been strongly influenced by a body of research in subjective well-being (SWB) and the capabilities...

We consider a decision maker that holds multiple preferences simultaneously, each with different strengths described by a probability distribution. Faced with a subset of available alternatives, the preferences held by the individual can be in conflict. Choice results from an aggregation of...