We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial … are more likely to invest in the stock market. However, little is known about whether this is a causal effect of education … or whether it arises from the correlation of education with unobserved characteristics. Using exogenous variation in …

-year graduation. Importantly, we take advantage of a unique institutional feature of the Texas higher education system to control for …

We investigate whether acquiring more education when young has long-term effects on risktaking behavior in financial … are more likely to invest in the stock market. However, little is known about whether this is a causal effect of education … or whether it arises from the correlation of education with unobserved characteristics. Using exogenous variation in …