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Description:
Unique data from the Berea Panel Study provides new evidence about fertility outcomes before age 30 and beliefs about these outcomes elicited soon after college graduation. Comparing outcomes and beliefs yields a measure of belief accuracy. Individuals who are unmarried and not in relationships at age 24 are extremely optimistic about the probability of having children, while married individuals have very accurate beliefs. Novel attractiveness measures are central for understanding fertility beliefs and outcomes for females but not for males. Marriage is a mechanism that is relevant for understanding differences in beliefs, outcomes, and misperceptions across relationship and attractiveness groups