How do people trade off resources between quick and slow learners?
The paper titled "How do people trade off resources between quick and slow learners?" by Ranveig Falch has been published in European Economic Review.
Abstract
How society invests in human capital is important for economic growth and social welfare. The paper reports from a novel, large-scale experiment with 2,000 Americans, where people choose how to allocate resources between quick and slow learners. The paper finds that people give strong priority to strengthening the human capital of slow learners, and give evidence on the extent to which cost efficiency and the motivation of the learners shape the resource allocation. The findings provide important insights for the present debate on how society should prioritize in educational policy.
Read full paper here.