Hartog, Joop; Ophem, Hans Van; Bajdechi, Simona Maria - In: Education Economics 15 (2007) 3, pp. 259-275
The risk of investment in schooling has largely been ignored. We mimic the investment decision facing a student and … of rates of return appears positively skewed. Our best estimate of ex ante risk in university education is a coefficient … of variation of about 0.3, comparable with that in a randomly selected financial portfolio with some 30 stocks. With risk …