A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
The relative risk aversion hypothesis of educational choice
Abstract. Analysing young people's educational choices, we derive and test implications of a relative risk aversion hypothesis: that educational choices are made so as to minimize the risk of ending up with a lower level of education than one's parents. These implications are in general different from what one would expect from human capital theory. We use a unique data set which combines data from administrative registers on young people's pathways through the educational system and their family background with survey data on their academic abilities at lower secondary school. The evidence is partly in favour of the relative risk aversion hypothesis.
The relative risk aversion hypothesis of educational choice
Abstract. Analysing young people's educational choices, we derive and test implications of a relative risk aversion hypothesis: that educational choices are made so as to minimize the risk of ending up with a lower level of education than one's parents. These implications are in general different from what one would expect from human capital theory. We use a unique data set which combines data from administrative registers on young people's pathways through the educational system and their family background with survey data on their academic abilities at lower secondary school. The evidence is partly in favour of the relative risk aversion hypothesis.
The relative risk aversion hypothesis of educational choice
Davies, Richard (author) / Heinesen, Eskil (author) / Holm, Anders (author)
2002
Article (Journal)
English
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