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Risk and Career Choice

Author

Listed:
  • Saks Raven E

    (Harvard University)

  • Shore Stephen H

    (University of Pennsylvania)

Abstract

Choosing a type of education is one of the largest financial decisions we make. Educational investment differs from other types of investment in that it is indivisible and non-tradable. These differences lead agents to demand a premium to enter careers with more idiosyncratic risk. Since the required premium will be smaller for wealthier agents, they will tend to enter careers with more idiosyncratic risk.

Suggested Citation

  • Saks Raven E & Shore Stephen H, 2005. "Risk and Career Choice," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 5(1), pages 1-45, October.
    • Handle: RePEc:bpj:bejeap:v:advances.5:y:2005:i:1:n:7
    DOI: 10.1515/1538-0637.1414
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    References listed on IDEAS

    as
    1. Panel on Estimates of Poverty for Small Geographic Areas of which Allen L. Schirm is a member, "undated". "Small-Area Income and Poverty Estimates: Priorities for 2000 and Beyond," Mathematica Policy Research Reports a0588a6815864c46b8974e1d1, Mathematica Policy Research.
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