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Hundreds of colleges have changed their names to signal higher quality. We estimate how this affects college choice and the labor market performance of college graduates. Administrative data show that name-changing colleges enroll higher-aptitude students, with larger effects for attractive-but-misleading name changes and among students with less information. A resume audit study shows that employer callbacks respond to the increased aptitude of recruited students at these colleges. We broaden these results using scraped online text data, survey data, and other administrative data. Our study demonstrates that signals designed to change beliefs can have real, lasting impacts on market outcomes.

Can families in low-income contexts "pull themselves up by their bootstraps?" In rural Gambia, caregivers with high aspirations for their children, measured before the child starts school, invest substantially more in their children's education. Despite this, essentially no children are literate or numerate three years later. In contrast, a bundled supply-side intervention administered in these same areas generated large literacy and numeracy gains. Crucially, conditional on receipt of this intervention, high-aspirations children are 25 percent more likely to attain literacy/numeracy than low-aspirations children. We also show how the test score SD metric can mislead when counterfactual learning levels are low.

Aspirations shape important future-oriented behaviors, including educational investment. Higher family aspirations for children predict better educational outcomes in multiple developing countries. Unfortunately, aspirations sometimes outstrip people's ability to pursue them. We study the relationship between family aspirations for children and later child educational outcomes in an extremely poor context. We observe caregivers' educational and career aspirations for thousands of rural Gambian children about to begin schooling. While higher aspirations predict subsequent educational investment and, three years later, better child performance on reading/math tests, these gains are small in terms of skills learned, and high-aspirations children remain far from achieving literacy/numeracy. In contrast, a bundled supply-side intervention generated large literacy/numeracy gains in these areas. Since unobserved correlates of aspirations and educational outcomes likely bias our estimates upwards, the true aspirations-learning relationship may be even smaller. We conclude higher aspirations alone are insufficient to achieve literacy/numeracy in this, and perhaps similar contexts.

Books shape how children learn about society and social norms, in part through the representation of different characters. To better understand the messages children encounter in books, we introduce new artificial intelligence methods for systematically converting images into data. We apply these image tools, along with established text analysis methods, to measure the representation of race, gender, and age in children's books commonly found in US schools and homes over the last century. We find that more characters with darker skin color appear over time, but "mainstream" award-winning books, which are twice as likely to be checked out from libraries, persistently depict more lighter-skinned characters even after conditioning on perceived race. Across all books, children are depicted with lighter skin than adults. Over time, females are increasingly present but are more represented in images than in text, suggesting greater symbolic inclusion in pictures than substantive inclusion in stories. Relative to their growing share of the US population, Black and Latinx people are underrepresented in the mainstream collection; males, particularly White males, are persistently overrepresented. Our data provide a view into the "black box" of education through children's books in US schools and homes, highlighting what has changed and what has endured. [Additional funding for this report was provided by UChicago BFI, UChicago CDAC, NAEd/Spencer, and UChicago Career Advancement.]