How Performance Information Affects Human-Capital Investment Decisions: The Impact of Test-Score Labels on Educational Outcomes

John P. Papay, Richard J. Murnane, John B. Willett

NBER Working Paper No. 17120
Issued in June 2011

---- Acknowledgements -----

The research reported here was supported by the Institute of Education Sciences, U.S. Department of Education, through Grant R305E100013 to Harvard University and by the Spencer Foundation. The opinions expressed are those of the authors and do not represent views of the Institute, the U.S. Department of Education, the Spencer Foundation, or the National Bureau of Economic Research. The authors thank Carrie Conaway, the Director of Planning, Research, and Evaluation of the Massachusetts Department of Elementary and Secondary Education, for providing the data and for answering many questions about data collection procedures. Address correspondence to John Papay (john_papay@mail.harvard.edu).

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