Education, Inequality of Opportunity Aversion, Multi-Product, and Adverse Selection[Education, aversion sociale pour l'inégalité des chances, multi-production et anti-sélection]

We study in a principal-agent model the optimal education policy of a government with a varying inequality of opportunity aversion. The analysis takes place in a multiproduct setting where universities' effort disutility with regard to the production of graduates is a private information. In complete information, we show that inequality of opportunity aversion leads to an education policy highly elitist in privileged area opposed to a mass policy in disadvantaged ones. Private information with high social aversion unequivocally heighten this stratification to the very detriment of equality of opportunity owing to the conflict between opportunities promotion and incentives.