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. But the linear-in-means model masks considerable heterogeneity in the effects experienced by different types of students …. Using nonlinear models, one prevalent finding is larger peer effects in which high ability students benefit from the … presence of other high ability students. Studies that stratify students by race and ability often find that students are …
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Individual absolute risk aversion is measured for a sample of 1373 male household heads, using the 1995 wave of the Survey on the Income and Wealth of Italian households. This measure, conditional on financial and real wealth and household income, is used as an instrument for attained education...
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