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While uncertainty abounds in almost any decision on investment in schooling, it is mostly ignored in research and virtually absent in labour economics text books. This paper documents the scope for risk, discusses the tough disentanglement of heterogeneity and risk, surveys the analytical...
Persistent link: https://www.econbiz.de/10010877976
This paper argues that the consumption value of education is an important motivation for the educational choice. While controlling for ability, we document that individuals are willing to forego substantial future wage returns in order to acquire a particular type of higher education. We...
Persistent link: https://www.econbiz.de/10008533984
The consumption value of higher education is an important factor behind the individual’s educational choice. We provide a comprehensive literature survey, and define the consumption value as the private, intended, non-pecuniary return to higher education. We provide new empirical evidence for...
Persistent link: https://www.econbiz.de/10008534058
time and earnings by about 4.5% up to twelve years after graduation. For the high educated, the working time is not … persistently affected, but the penalty on the hourly wage (and earnings) increases with experience, and attains roughly -6% ten …
Persistent link: https://www.econbiz.de/10011200048
that emotional attachment and risk attitudes play important roles in the fertility-crime relationship. Finally, results for …
Persistent link: https://www.econbiz.de/10010877799
subjects' status concerns can result in multiple-equilibrium crime rates and may modify the standard comparative …-statics results regarding how the crime rate changes in response to a higher detection probability and higher sanctions. In addition … theories of crime, namely strain theory. …
Persistent link: https://www.econbiz.de/10010877885
This paper argues that the “Economics of Crime” concentrates too much on punishment as a policy to fight crime, which … is unwise for several reasons. There are important instances in which punishment simply cannot reduce crime. Several …
Persistent link: https://www.econbiz.de/10005013061
We provide evidence for a beneficial welfare impact of a crime policy that is targeted at strengthening victim …
Persistent link: https://www.econbiz.de/10010607472
We explore the individual and joint explanatory power of concepts from economics, psychology, and criminology for criminal behavior. More precisely, we consider risk and time preferences, personality traits from psychology (Big Five and locus of control), and a self-control scale from...
Persistent link: https://www.econbiz.de/10010739345
authorities across regions upon arrival, we find that immigration significantly increases crime. The crime impact of immigration … substantially stronger effects in regions with high preexisting crime levels or large shares of foreigners. …
Persistent link: https://www.econbiz.de/10011257672