Given a severe nurse shortage in Switzerland, this paper investigates Swiss students choice for nursing college education and the impact of their ex ante wage expectations on college enrolment. The analysis contributes to a small developing literature that uses subjective wage expectation data...

The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying the international empirical literature from this fresh perspective and by simulating risky earnings profiles in alternative options, choosing parameters on basis of the very...

Utility theory suggests that foreseeable risk should increase the compensation for work. This paper expands on this notion: on basis of utility theory, people should care not only about risk but also about the skewness in the distribution of the compensation paid. In particular, because the...