The educational voucher system builds on the pillars of informed choice and competition to improve the quality of the education provided. This document summarizes some of the results of recent literature on the subject, and discusses their public policy implications.

One of the pillars of the educational voucher system is that competition between schools to attract students would improve the quality of the education provided. Surveys in Chile have suggested that parents are not aware of the performance of their children's schools. In this paper, we assess...