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Number of high school dropouts

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Reference no: EM133082835

In Loewenstein and Thaler (1989), the authors discuss a change in a West Virginia law that substantially reduced the number of high school dropouts. Briefly discuss this change, explain why it is surprising from a rational standpoint, and appear to suggest "extremely high discount rates" (i.e. a relatively small delta in the exponential discounting model).

Reference no: EM133082835

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