Risk, Resources, and Education
AbstractThis paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. In the author’s framework, the social merits of public education schemes are related to the lack of markets in which students can insure against educational risks. A case is made for tuition fees that depend on the expected returns of investments in education. The consideration of uncertainty provides a neglected link between educational choice, resource endowment, and productivity growth, which may serve to redefine the public role of education financing.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 99/174.
Date of creation: 01 Dec 1999
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Postal: International Monetary Fund, Washington, DC USA
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Other versions of this item:
- von Weizsäcker, Robert K & Wigger, Berthold, 1998. "Risk, Resources and Education," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1808, C.E.P.R. Discussion Papers.
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
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