virtually absent in labour economics text books. This paper documents the scope for risk, discusses the tough disentanglement of … the option of consumption smoothing in analytical and empirical work. Hedging labour market risk in the stock market can … heterogeneity and risk, surveys the analytical models, laments the absence of a good workhorse model and points out the challenges …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …

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 …