Good teachers are critical for a high-quality educational system. This in turns leads to the question of who is interested in going into the teaching profession. Although research has been done on the professional careers of teachers, the issue of self-selection into teacher education has been...

This paper investigates whether risk preferences explain how individuals are sorted into occupations with different earnings variability. We exploit data from the German Socio-Economic Panel, which contains a subjective assessment of willingness to take risks whose behavioral relevance has been...