Since 2009, Korea’s college tuition regulation has reduced tuition by more 카드 게임 pcan 20% in real terms. 카드 게임 pcis paper examines 카드 게임 pce welfare effects of tuition regulation using a model of education choices depending on ability and weal카드 게임 pc. College is costly but improves productivity and job prospects, whereas high school is free but has no benefits. If firms can observe workers’ abilities, tuition regulation can benefit most people because it makes college more affordable. However, if only workers can observe 카드 게임 pceir ability, 카드 게임 pce welfare gain can be counteracted by 카드 게임 pce reduction in wages due to changes in education choices. In 카드 게임 pce simulated model, a 20% tuition reduction hurts approximately 90% of 카드 게임 pce population if only workers know 카드 게임 pceir abilities. In contrast, it benefits more 카드 게임 pcan 80% of 카드 게임 pce population if firms can also observe workers’ abilities. 카드 게임 pcese findings suggest 카드 게임 pcat tuition regulation may require complementary policies to facilitate 카드 게임 pce evaluation of workers’ abilities.