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The Role of Information on Return to Human Capital: A Laboratory Experiment on Educational Choices

Using experimental economics, this study examines the role of labour market information (LMI) and education in explaining human capital investment by adults. LMI matters, and can be improved, but it influences education investment decisions far more for young adults than for older adults. LMI can serve to increase young people's willingness to invest in education, but is not likely to have a strong impact on the educational investment decisions of older adults.
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