A crowded street

Working papers

Our IFS working paper series publishes academic papers by staff and IFS associates.

Working papers: all content

Showing 1481 – 1500 of 1819 results

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Can education compensate for low ability? Evidence from British data

Working Paper

This paper uses cross section data to investigate whether the returns to education vary with the level of ability. Using a measure of cognitive ability based on tests taken at ages 7 and 11 we find, unlike most of the existing literature, clear evidence that the return to schooling is lower for those with higher ability indicating that education can act as a substitute for observed ability.

9 August 2004

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Comparative advantage and heterogeneous firms

Working Paper

This paper presents a model of international trade that features heterogeneous firms, relative endowment differences across countries, and consumer taste for variety.

1 July 2004

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Pessimistic portfolio allocation and Choquet expected utility

Working Paper

Recent developments in the theory of choice under uncertainty and risk yield a pessimistic decision theory that replaces the classical expected utility criterion with a Choquet expectation that accentuates the likelihood of the least favorable outcomes.

7 June 2004