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Title:Skill formation under incomplete information PDF Logo
Authors:Weinschenk, Philipp
Issue Date:2010
Series/Report no.:Preprints of the Max Planck Institute for Research on Collective Goods 2010,26
Abstract:We consider an economic model of child development with multiple stages. Due to incomplete information, parents are not able to tailor their investments to their child's type when the child is young. We show that incomplete information weakens the importance of early investments in children when inter-stage investments are easily substitutable, but strengthens them when substitution is difficult. The latter case is empirically relevant.
Subjects:Skill Formation
Education
Incomplete Information
JEL:I21
J13
D80
Document Type:Working Paper
Appears in Collections:Preprints of the Max Planck Institute for Research on Collective Goods

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