In almost all school systems, students are assigned to public schools based, at least partly, on their home address. Through this policy, students are typically assigned to the school closest to their home. The main objective may be to avoid long and costly commutes to and from school. However,...

Adolescence is a period when young people start to prepare for adult life. Teenagers have to make important decisions relevant to their working lives later on, such as what field of study or type of education they will pursue. But young people often lack sufficient knowledge about the breadth of...

The aim of this paper is to study the impact of bankruptcy law on financing, investment, default and liquidation decisions of firms. We build a model in which a firm can finance its investment by issuing debt. The investment is risky. Because of risk, the firm may default. The firm manager takes...

The aim of this paper is to study the impact of the bankruptcy law on financing, investment, default and liquidation decisions of firms. We build a model in which the firm has the opportunity to get into debt to finance an investment whose return is stochastic. Shareholders and bondholders...