Rational Students and Resit Exams
Resit exams – extra opportunities to do an exam in the same academic year – are widely prevalent in European higher education, but uncommon in the US. I present a simple theoretical model to compare rational student behavior in the case of only one exam opportunity versus the case of two exam opportunities. Numerical examples for a wide range of plausible parameter values show that a second exam opportunity increases the ultimate passing probability only slightly, but strongly reduces average total student effort.
|Date of creation:||Sep 2012|
|Date of revision:|
|Publication status:||published in: Economics Letters, 2013, 118 (1), 213-215|
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