@TechReport{iza:izadps:dp6832,
            	author={Kooreman, Peter},
            	title={Rational Students and Resit Exams},
            	year={2012},
	month={Sep},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={6832},
            	url={https://www.iza.org/index.php/publications/dp6832},
	abstract={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.},
	keywords={education production function;frequency of examinations;rationality},
            }