Institutions in Education

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Focusing on education as a key driver of human capital formation, this volume explores the economic significance of educational systems. It offers insights into optimal school organization, including incentive structures and competition, while examining the impact of teacher effort on incentive contracts. Additionally, it analyzes spatial competition's role in school choice and achievement. The book also investigates how population aging affects education decisions within a pay-as-you-go pension system, concluding that postponed retirement may enhance human capital formation and mitigate GDP decline.