Under the normative Expected Value (EV) model, multiple outcomes are additive, but in everyday worth judgement intuitive averaging prevails. Young children also use averaging in EV judgements, leading to a disordinal, crossover violation of utility when children average the part worths of simple gambles involving independent events (Schlottmann,…

We investigate short and long-term effects of early childhood education using variation created by a unique policy experiment in British Columbia, Canada. Our findings imply starting Kindergarten one year late substantially reduces the probability of repeating the third grade, and meaningfully increases in tenth grade math and reading scores.…