We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N = 3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...

Risky health behaviors such as smoking, drinking alcohol, drug use, unprotected sex, and poor diets and sedentary lifestyles (leading to obesity) are a major source of preventable deaths. This chapter overviews the theoretical frameworks for, and empirical evidence on, the economics of risky...

We find that over the period 1950–1990, states in United States absorbed increases in the supply of schooling due to tighter compulsory schooling and child labor laws mostly through within-industry increases in the schooling intensity of production. Shifts in the industry composition towards...

This paper shows that returns to education are not enough to capture all the returns to human capital. Using longitudinal data of all college graduates in Colombia, we estimate labor market returns to postsecondary degrees and to various skillsincluding literacy, numeracy, foreign language,...

The skills issue is currently at or near the top of the federal government’s policy agenda, given its importance for harnessing the benefits of technological advances. Policy initiatives in the area should be premised on an accurate assessment of Canada’s recent experience in education and...

We study the relationship between age and literacy skills in Canada, Norway and the U.S. – countries that represent a wide range of literacy outcomes -- using data from the 1994 and 2003 International Adult Literacy Surveys. In cross-sectional data there is a weak negative partial...

Literacy is central to the improvement and betterment of any society. Individuals cannot fully engage in social and political discourse, and are more likely to become less-than-equals in society without basic literacy to pursue their goals. On the individual level, more literate individuals tend...

We find that over the period 1950–1990, states in United States absorbed increases in the supply of schooling due to tighter compulsory schooling and child labor laws mostly through within-industry increases in the schooling intensity of production. Shifts in the industry composition towards...

Parental divorce imposes a small but significant educational disadvantage on American children. Does this generalize across nations and over time? We analyze representative national samples from Australia (n=29,443) and Canada (n=28,266), together with US General Social Survey data (n=32,380)....

The National Collegiate Athletic Association (“NCAA”) is based on such ideals as amateurism, fairness, and healthy competition, and ensures compliance with those principles with a formalized system of investigation, infraction hearings, and penalties. Legal minds, as well as the direct...