We use rich microeconomic data on performance and choices of students at college entry to study the interaction between … which preferences and expectations of students are identified from data on choices and multiple exam grades. Counterfactuals … timing of choices and exams are shown to increase welfare. Redistribution among students or schools is sizeable in all …

We study a structural model of college admissions framed as a contest between a continuum of students for enrollment in … a continuum of colleges where the contest outcome is decided by the students' choice of human capital (HC). Students … students, and means-tested affirmative action (AA). An AA ban would result in a large migration of minority students out of the …

aid could reduce student loan defaults without restricting prospective students' access to higher education. We examine …, market enrollment declines by just 3 percent. Finally, we provide suggestive evidence that students induced to enroll in …