risk aversion on the probability of entering higher education. This allows us to characterize the subjective (as opposed to … the objective) effect of higher education on marginal risk exposure. Because the measure of risk aversion (the classical … (comparable to parents' educational background) of the decisions to enter higher education. Precisely, risk aversion acts as a …

the probability of entering higher education. Differences in ability(ies) and in parental human capital are much more …

probability of entering higher education. Differences in ability(ies) and in parental human capital are much more important. in …