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Choices of schools can matter to some degree because of peer group, however, there are two factors to consider. One, they matter far less than parents believe. Second, most of the effect is due to accidental marketing. Two, most of why they work is merely due to ignorance from parents about what’s really important with life outcomes. There are far cheaper ways than relocating to expensive suburbs, or private schools – like public magnet schools – which still cause a child to have a more studious peer group.
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We certainly can channel human nature in many ways which dramatically changes behavior. Read Stephen Pinker’s latest book for numerous examples.