This paper analyses the effects of labour market expectations and admission probabilities on students' application strategies to higher education. The starting hypothesis of this study is that students consider the expected utility of their choices, a function of expected net lifetime earnings...

The paper reexamines Lipset's theory of democratization, by distinguishing the role of (economic) development from that of education, inequality, and (natural) resources. We highlight two contrasting effects of education and human capital accumulation. On the one side, education prompts economic...