【题 目】How Parents’ Beliefs About Their Children’s Academic Ability Affect Educational Investments
【地 点】后主楼 1610会议室
摘要： Using a randomized field experiment with parents of high school students in China, I examine the causal effects of parents' belief in their children's ability on educational investment and children's academic performance. I document two types of information frictions that result in systematic biases in parents' beliefs about children's ability: overconfidence in future performance and underestimating college admission requirements. I then introduce two interventions to correct parents' belief biases. In the first intervention, I use machine-learning techniques to generate predictions on children's future academic performance and distribute them to randomly selected parents. In the second intervention, I give randomly selected parents a report that lists the feasible colleges corresponding to their children's current academic performance. I find that both interventions lead to dramatic reductions in belief biases. In addition, parents report higher levels of monetary investments in children's education, which significantly improved children's academic performance. I also find significant non-linearity for the impacts of ability belief on parental educational investments around their aspirations.