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 simulate risky earnings profiles in alternative options, with parameters taken from the very limited evidence. The distribution of rates of return appears positively skewed. Our...