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We analyze workers' risk preferences and training investments. Our conceptual framework differentiates between the investment risk and insurance mechanisms underpinning training decisions. Investment risk leads risk-averse workers to train less; they undertake more training if it insures them...
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privatization of tertiary education comes with a vast reduction in the number of students, an increase in the college wage premium … and longrun welfare losses of around 5 percent. Surprisingly, we find that from privatization of tertiary education …
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We analyze workers' risk preferences and training investments. Our conceptual framework differentiates between the investment risk and insurance mechanisms underpinning training decisions. Investment risk leads risk-averse workers to train less; they undertake more training if it insures them...
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