Strong intergenerational associations in wealth have fueled a longstanding debate over why children of wealthy parents …'s accumulation of wealth and investor behavior as adults, even when removing the genetic connection between children and the parents … tend to be well off themselves. We investigate the role of family background in determining children's wealth accumulation …

Students' choices in education can only be based on expected outcomes. Econometric models that infer expectations based …

As Switzerland experiences a severe shortage of nurses, this paper investigates the impact of students' ex ante wage …. This suggests that policies that increase returns from studying nursing can attract students to nursing. In addition, the …

We use a unique data set about the wage distribution that Swiss students expect for themselves ex ante, deriving … which handicapped the use of actual market wage dispersion as risk measure in earlier studies. Students in our sample … risk as expected by students we find compensation at similar elasticities as observed in market data. The results are …