High-Stakes Grades and Student Behavior
研究利用高中成绩重新编码改革，发现被降级的学生后续表现更好，且更可能上大学，说明考试分数激励影响教育投入。
High-stakes exams carry important consequences for the prospects of reaching university. This study examines whether the incentives associated with exam grades affect educational investments. Exploiting a reform-induced recoding of high school students' grade point average, we identify the effect of high-stakes grades on student behavior. The results show that students who were downgraded by the recoding performed better on subsequent assessments. The increase in academic performance in high school translated into an increased likelihood of university enrollment. As the recoding did not convey information about actual performance, these results emphasize that incentives are important in understanding students’ educational investments.