The Prior Trap

dc.contributor.advisorDavid Flath, Committee Memberen_US
dc.contributor.advisorCharles Knoeber, Committee Memberen_US
dc.contributor.advisorStephen Margolis, Committee Chairen_US
dc.contributor.advisorCriag Newmark, Committee Memberen_US
dc.contributor.authorSmith, Karlen_US
dc.description.abstractBasic economic theory suggests that the decision to go to college should be based only on the expected costs and benefits of college. The income of the family the student comes from should have no effect. Yet, it does. The two common explanations for this discrepancy, inadequate primary school funding and liquidity constraints are at odds with the facts. I offer a third explanation, economically disadvantaged students attend college at lower rates because they have biased information. This analysis connects to the existing literature in at least three ways. It provides a rational basis for the neighborhood effect., extends work on human capital development indicating that educational paths are set at or before age 16 and helps provide an explanation for the both the increase in the return to education and the slowdown in college graduation growth among young men in the United States.en_US
dc.rightsI hereby certify that, if appropriate, I have obtained and attached hereto a written permission statement from the owner(s) of each third party copyrighted matter to be included in my thesis, dis sertation, or project report, allowing distribution as specified below. I certify that the version I submitted is the same as that approved by my advisory committee. I hereby grant to NC State University or its agents the non-exclusive license to archive and make accessible, under the conditions specified below, my thesis, dissertation, or project report in whole or in part in all forms of media, now or hereafter known. I retain all other ownership rights to the copyright of the thesis, dissertation or project report. I also retain the right to use in future works (such as articles or books) all or part of this thesis, dissertation, or project report.en_US
dc.subjectsocial networksen_US
dc.subjectpeer effectsen_US
dc.titleThe Prior Trapen_US


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