COLLEGE CHOICE AS A COLLECTIVE DECISION

Although the choice between colleges can be thought of as being made collectively by a family, models of educational choice almost universally portray the decision as made by the student alone. Using a novel experimental method for identifying collective decision functions, I find that students have more influence than parents over the decision, but not exclusive control. Students care more than parents about classroom experience and future earnings. Ignoring the dual‐agent nature of the decision can weaken predictions and lead to poorly targeted policy designs. (JEL I21, J24, D13)