Henderson, Daniel J.; Souto, Anne-Charlotte; Wang, Le - In: Journal of risk and financial management : JRFM 13 (2020) 11/253, pp. 1-25
In the traditional human capital framework, education is often considered as an investment, rather than consumption, while consumption is not necessarily precluded. Whether education is an investment is empirically unclear and relatively under-explored. We shed light on this issue by estimating...
