The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying … positively skewed. Our best guess of ex ante risk in university education is a coefficient of variation of about 0.3, comparable …

The risk of investment in schooling has largely been ignored. We assess thevariance in the rate of return by surveying … skewed. Our best guess of ex ante risk in university education is a coefficient ofvariation of about 0.3, comparable to that …

This paper looks at the joint impact of labour market risk and selection in to the labour market on returns to … education. Accounting for non-employment risk leads to substantial changes in returns while wage risk has little impact. The … risk- adjusted returns to both high school and college for males are larger than unadjusted returns. For females, risk …

Investing in human capital increases lifetime income, but these investments may involve substantial risk. In this paper … vocational high school. Accounting for risk does little to change this picture. By contrast, vocational high school is associated …

capital returns using a performance measure and by using tests for mean-variance spanning. A risk-return trade-off is revealed …

dataset covering 1% of German households for the period 1995-2009, we analyse the return and risk properties that can be … expected from human capital contracts. We find that funds of human capital contracts provide low risk exposures to stocks and … bonds. As a result, risk-adjusted returns of funds of human capital contracts are signicantly positive under fairly weak …

-cycle consistent, stochastic model. We show that education attainment will be an increasing function of the risk associated with … degree of risk aversion. We also examine the link between consumption over the life-cycle and education choice to show that …