Spence (1973) noted that individuals' choice of educational quantity--measured by years of schooling--may stem partially from a desire to signal their ability to the labor market. This paper asks if individuals' choice of educational quality--measured by college reputation--may likewise signal...

We examine a natural experiment in Brazil in which similar students took the same standardized test as either a low-stakes school accountability exam or a high-stakes admission exam for the country's top universities. Using administrative data and a difference-in-differences design, we find that...

This chapter reviews the extensive literature to date on CCTs for education. Section 2 provides background on the origins and expansion of CCTs globally, and describes basic design features and variation in characteristics across programs. Section 3 presents a theory of change and an economic...

We document how an anti-poverty program improves economic and subjective wellbeing, and self-sufficiency. Familias en Accion Urbano, a conditional cash transfer program implemented at scale in the country of Colombia, uses a means-test cutoff score selection rule that provides exogenous...

Friedman (1955) argued that giving parents freedom to choose schools would improve education. His argument was simple and compelling because it extended results from markets for consumer goods to education. We review the evidence, which yields surprisingly mixed results on Friedman's prediction....

This paper examines the roles that information and preferences play in determining whether households choose schools with high value added. We study Romanian school markets using administrative data, a survey, and an experiment. The administrative data show that, on average, households could...