We show that data on subjective expectations, especially on outcomes from counterfactual choices and choice probabilities, are a powerful tool in recovering ex ante treatment effects as well as preferences for different treatments. In this paper we focus on the choice of occupation, and use...

College students select their majors for a variety of reasons, including expected returns in the labor market. This paper demonstrates an empirical method that links a census of U.S. degrees and fields of study with measures of the knowledge content of jobs. The study combines individual wage...

How valuable is education for entrepreneurs' performance as compared to employees'? What might explain any differences? And does education affect peoples' occupational choices accordingly? We answer these questions based on a large panel of US labor force participants. We show that education...