This paper studies how information (grades) from standardized tests in mathaffects human capital formation in early schooling. We use a regression discontinuity design to estimate how later outcomes of children scoring just below or above the threshold separating two grades are affected. Our results demonstrate that providing information to parents about their child's educational performance in math in third grade can improve their future educational outcomes, regardless of the child's ability level. We also investigate subjective well-being measures, such as academic confidence and intrinsic motivation, and find no evidence that low-performing students are particularly sensitive to negative feedback from tests.

本文研究数学中来自标准化测试的信息（等级）如何影响早期教育中的人力资本形成。我们使用回归不连续性设计来估计刚好将两个年级分开的阈值以下的孩子的以后结果如何受到影响。我们的结果表明，不管孩子的能力水平如何，向父母提供有关孩子三年级数学教育成绩的信息都可以改善他们未来的教育成果。我们还研究了主观幸福感测量方法，例如学业信心和内在动机，没有发现证据表明成绩欠佳的学生对测验的负面反馈特别敏感。