Limiting the range of insurance. If someone takes a dumb risk, they aren't covered. The tale of the jeweler. Some Puzzles 1. Smart and hard-working people find it easier to do schoolwork.
Lazy people find it more costly to take extra effort with an application.
Honest firms find it cheap to provide warrantees. People only want what the effort proves you already had in the first place. It just forces people to use more real resources to prove the same thing. But employers still pay more for more education. D. Similarly, people who are dumb, lazy, and or non-conformist have trouble finishing school.