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Risk and Career Choice: Evidence from Turkey

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  • Asena Caner
  • Cagla Okten

Abstract

In this paper, we examine the college major choice decision in a risk and return framework using university entrance exam data from Turkey. Specifically we focus on the choice between majors with low income risk such as education and health and others with riskier income streams. We use a unique dataset that allows us to control for the choice set of students and parental attitudes towards risk. Our results show that father's income, self-employment status and social security status are important factors influencing an individual in choosing a riskier career such as business over a less risky one such as education or health.

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Bibliographic Info

Paper provided by TOBB University of Economics and Technology, Department of Economics in its series Working Papers with number 0803.

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Date of creation: Jul 2008
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Handle: RePEc:tob:wpaper:0803

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  1. Aysit Tansel & Fatma Bircan, 2005. "Effect of Private Tutoring on University Entrance Examination Performance in Turkey," ERC Working Papers 0504, ERC - Economic Research Center, Middle East Technical University, revised Jun 2005.
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  6. Mark C. Berger, 1988. "Predicted future earnings and choice of college major," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 41(3), pages 418-429, April.
  7. Tansel, Avsit, 2005. "Public-Private Employment Choice, Wage Differentials, and Gender in Turkey," Economic Development and Cultural Change, University of Chicago Press, vol. 53(2), pages 453-77, January.
  8. Tansel, A., 1992. "Wage Employment, Earnings and Returns to Schooling for Men and Women in Turkey," Papers 661, Yale - Economic Growth Center.
  9. Dohmen, Thomas J. & Falk, Armin & Huffman, David & Sunde, Uwe, 2012. "The intergenerational transmission of risk and trust attitudes," Munich Reprints in Economics 20051, University of Munich, Department of Economics.
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  12. Liu, Jin-Tan & Chou, Shin-Yi & Liu, Jin-Long, 2006. "Asymmetries in progression in higher education in Taiwan: Parental education and income effects," Economics of Education Review, Elsevier, vol. 25(6), pages 647-658, December.
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  14. Williams, Joseph T, 1979. "Uncertainty and the Accumulation of Human Capital over the Life Cycle," The Journal of Business, University of Chicago Press, vol. 52(4), pages 521-48, October.
  15. Tansel, Aysit, 2002. "Determinants of school attainment of boys and girls in Turkey: individual, household and community factors," Economics of Education Review, Elsevier, vol. 21(5), pages 455-470, October.
  16. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-30, October.
  17. Arcidiacono, Peter, 2002. "Ability Sorting and the Returns to College Major," Working Papers 02-26, Duke University, Department of Economics.
  18. Fiona Carmichael, 2000. "Intergenerational mobility and occupational status in Britain," Applied Economics Letters, Taylor & Francis Journals, vol. 7(6), pages 391-396.
  19. Levy, Haim, 1994. "Absolute and Relative Risk Aversion: An Experimental Study," Journal of Risk and Uncertainty, Springer, vol. 8(3), pages 289-307, May.
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Citations

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Cited by:
  1. Kala Krishna & Sergey Lychagin & Cemile Yavas & Veronica Frisancho, 2014. "Better Luck Next Time: Learning through Retaking," Research Department Publications IDB-WP-483, Inter-American Development Bank, Research Department.
  2. Verena Jung & Sascha L. Schmidt & Benno Torgler, 2012. "Antecedents of Attitudes Towards Risky Career Choices," CREMA Working Paper Series 2012-20, Center for Research in Economics, Management and the Arts (CREMA).
  3. Goldbach, Stefan, 2012. "Innovation and Education: Is there a 'Nerd Effect'?," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62307, Verein für Socialpolitik / German Economic Association.
  4. Maestri, Virginia, 2009. "Promoting scientific faculties: does it work? Evidence from Italy," MPRA Paper 31546, University Library of Munich, Germany, revised Oct 2010.
  5. Caner, Asena & Okten, Cagla, 2012. "Higher Education in Turkey: Subsidizing the Rich or the Poor?," IZA Discussion Papers 7011, Institute for the Study of Labor (IZA).
  6. De Paola, Maria & Gioia, Francesca, 2013. "Does Patience Matter for Marriage Stability? Some Evidence from Italy," IZA Discussion Papers 7769, Institute for the Study of Labor (IZA).
  7. Maria De Paola & Francesca Gioia, 2011. "Risk Aversion And Major Choice: Evidence From Italian Students," Working Papers 201107, Università della Calabria, Dipartimento di Economia, Statistica e Finanza (Ex Dipartimento di Economia e Statistica).
  8. Fouarge, Didier & Kriechel, Ben & Dohmen, Thomas, 2014. "Occupational Sorting of School Graduates: The Role of Economic Preferences," IZA Discussion Papers 8355, Institute for the Study of Labor (IZA).

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