This paper investigates the relationship between aspirations and inequality in higher education participation. Using a regression discontinuity design, I evaluate the impact of a national-scale United Kingdom policy aimed at raising the aspirations toward college education of pupils from disadvantaged backgrounds by involving them in outreach activities. The results show that the policy successfully raised the aspirations of the target students and their participation in postcompulsory education. However, its final effect on college enrollment was on the whole negligible, thus casting doubt on the effectiveness of policies that uniquely leverage aspirations to reduce inequality in educational attainment.

We analyze the effects of Mafia infiltration in the legal economy. Combining information from investigative records with panel data on firms’ governance and balance sheets, we build an indicator of infiltration in firms located in an area with no tradition of Mafia. We show that Mafia targets young and less efficient firms and that infiltration generates a significant rise in firms’ revenues, with no proportionate growth in production inputs and a deterioration of the firm’s financial situation leading to market exit. These findings are consistent with a story of predatory behavior in which infiltration is used for money laundering or rent extraction.