The observed hump-shaped life-cycle pattern in individuals' consumption cannot be explained by the classical consumption-savings model. We explicitly solve a model with utility of both consumption and leisure and with educational decisions affecting future wages. We show optimal consumption is...

The observed hump-shaped life-cycle pattern in individuals' consumption cannot be explained by the classical consumption-savings model. The consensus explanation is that the hump is caused by constraints and unspanned risks. However, we explicitly show that the consumption hump naturally emerges...

The empirically observed hump-shaped pattern in individuals' consumption over their life cycle cannot be explained by the classical consumption-savings model. We explicitly solve an extended model with utility depending on both consumption and leisure and with endogenous educational decisions...

Given a discontinuity in the class assignment of a flagship university in Brazil, we find that the relative disadvantage students face in the better class reduces their absolute performance. Although their future earnings are unaffected, these students are more willing to switch majors and less...

Procrastination produces harmful effects for human capital investments and studying activities. Using data from a large sample of Italian undergraduates, we measure procrastination with the actual behaviour of students, considering the delay in finalizing their university enrolment procedure. We...

The empirically observed hump-shaped pattern in individuals' consumption over their life cycle cannot be explained by the classical consumption-savings model. We explicitly solve an extended model with utility depending on both consumption and leisure and with endogenous educational decisions...

Numerous countries require teachers to assign comportment grades rating students' social and work behavior in the classroom. However, the impact of such policies on student outcomes remains unknown. We exploit the staggered introduction of comportment grading across German federal states to...

Numerous countries require teachers to assign comportment grades rating students’ social and work behavior in the classroom. However, the impact of such policies on student outcomes remains unknown. We exploit the staggered introduction of comportment grading across German federal states...

Procrastination produces harmful effects for human capital investments and studying activities. Using data from a large sample of Italian undergraduates, we measure procrastination with the actual behaviour of students, considering the delay in finalizing their university enrolment procedure. We...

The observed hump-shaped life-cycle pattern in individuals' consumption cannot be explained by the classical consumption-savings model. We explicitly solve a model with utility of both consumption and leisure and with educational decisions affecting future wages. We show optimal consumption is...