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 models, laments the absence of a good workhorse model and points out the challenges … worth tackling: document ex ante risk that investors face, develop a tractable and malleable analytical model and integrate …

pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and … to estimate individual response to earnings risk in deciding on attending university education, by measuring risk as the … risk aversion, the response may be reversed to positive. …