In this paper, the authors examine how information that students receive about their academic performance affects their decisions to enroll in post-secondary education. In particular, they look at one specific piece of data--student performance on the state standardized mathematics test in grades 8 and 10 in Massachusetts. One key feature of such…

Students receive abundant information about their educational performance, but how this information affects future educational-investment decisions is not well understood. Increasingly common sources of information are state-mandated standardized tests. On these tests, students receive a score and a label that summarizes their performance. Using a…