The choice of a college major plays a critical role in determining the future earnings of college graduates. Students make their college major decisions in part due to the future earnings streams associated with the different majors. We survey students about what their expected earnings would be...

This paper investigates the role played by informational frictions in college and the workplace. We estimate a dynamic structural model of schooling and work decisions, where individuals have imperfect information about their schooling ability and labor market productivity. We take into account...

At the private university we analyze, the gap between white and black grade point averages falls by half between the students’ freshmen and senior year. This outcome could suggest that affirmative action policies are playing a key role to reduce racial differences. However, this convergence...