Imagine that someone were to offer you a choice: you could spend four years studying at the world’s best university, but you would have to keep your attendance there a secret. Or you could be awarded an official degree from the world’s best university, but you couldn’t actually attend (although no one need ever know this).

Which choice do you think would enhance your future earnings more? What does your answer say about the debate over signalling versus human capital in the role of education?