Using data in which individual risk aversion is measured from answers to a lottery question, I investigate if (and to what extent) parents’ risk aversion and wealth can explain secondary schooling choices of young Italians. The question is relevant because the type of secondary school is likely to affect accession to college and the future performance in the labor market. I find that risk aversion has no effect on the choice of secondary school while family wealth is significantly positively associated to the choice of “Liceo”. OLS and IV estimates show that parents’ wealth has a significantly larger effect in liquidity constrained families (4% of the sample). This finding points to the necessity of introducing schooling grants at lower levels of schooling.
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Volume (Year): 66 (2007) Issue (Month): 2 (July) Pages: 177-206 Download reference. The following formats are available: HTML
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Handle: RePEc:gde:journl:gde_v66_n2_p177-206
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Find related papers by JEL classification: J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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