University of York Beijing Normal University The efficiency of the process of investment in human capital through education is of considerable importance both to the individuals involved and to the wider economy. The paper develops an analytical framework in which issues of the efficiency of...

How society invests in human capital is important for economic growth and social welfare. The paper reports from the first experiment designed to elicit people's preferences for how to prioritize educational resources, where 2,000 Americans trade off educational resources between quick and slow...