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 …

disparities - which hitherto has received limited attention - is the risk people face about their future health. This paper … integrates risk into the standard inequality measurement which measures the extent to which disparities in realized health are … account for risk averse preferences in the assessment of income-related health inequalities. The empirical application using …

CO2 prices must rise at a rate equal to the risk-adjusted interest rate, typically higher than the economic growth rate …. Summing up, CO2 prices must rise at a rate at least equal to the economic growth rate and at most to the risk …

We study the optimal taxation of risk-free and excess capital income with heterogeneous rates of return, alongside an … optimal nonlinear earnings tax. Households can hold three assets: one risk-free, one risky but diversifiable, and one a … private investment with idiosyncratic risk whose expected return differs among households. Contrary to expectations, the …