A Big Fish in a Small Pond: Ability Rank and Human Capital Investment
研究高中班级内的排名对学生未来教育成就的影响，发现排名靠前的学生更可能完成高中学业和上大学，且对未来职业期望更高。
We study the impact of a student’s ordinal rank in a high school cohort on educational attainment several years later. To identify a causal effect, we compare multiple cohorts within the same school, exploiting idiosyncratic variation in cohort composition. We find that a student’s ordinal rank significantly affects educational outcomes later in life. Students with a higher rank are significantly more likely to finish high school and to attend college. Exploring potential channels, we find that students with a higher rank have higher expectations about their future career, as well as a higher perceived intelligence.