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Education, Decision Making, and Economic Rationality

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 01 Jan 2018 United Kingdom English Publisher:MIT Press - JournalsJournal:The Review of Economics and Statistics, volume 101, pages 428-441 (issn: 0034-6535, eissn: 1530-9142, Copyright policy )
Authors: Banks, James; Carvalho, Leandro; Perez-Arce, Fransisco;

doi: 10.1162/rest_a_00785 , 10.2139/ssrn.3225321

Education, Decision Making, and Economic Rationality

Abstract

This paper studies the causal effect of education on decision making. In 1972, England raised its minimum school-leaving age from 15 to 16 for students born after September 1, 1957. An online survey was conducted with 2,700 individuals born in a 36-month window on either side of this date. Participants made 25 incentivized risk choices that allow us to measure multiple dimensions of decision making. Despite the policy having effects on education, educational qualifications, and income, we find no effects of the policy on decision making or decision-making quality.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
27
Top 10%
Top 10%
Top 10%
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bronze
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