In response to declining budgets, many school districts in the US have reduced funding for sports. In Europe, parents may respond to difficult economic times by spending less on sports clubs for their children. Such cuts are unwise if participating in sports is an investment good as well as a...

It is still widely debated how non-cognitive skills can be affected by policy intervention. For example, universal music education programs are becoming increasingly popular among policy makers in Germany and other developed countries. These are intended to give children from poor families the...