Henderson, Daniel J.; Souto, Anne-Charlotte; Wang, Le - In: Journal of risk and financial management : JRFM 13 (2020) 11/253, pp. 1-25
under-explored. We shed light on this issue by estimating the risk-return trade-off in the context of education. If … education is indeed an investment, risk could play an important role in individual educational decisions just as with risky … measures of risk based on the entire distribution of returns to education recovered by our nonparametric models. Our results …
