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Risk Aversion and College Attendance


  • Stacey H. Chen


This paper documents the relation between risk attitude and college attendance. A measure of the degree of risk aversion is constructed based upon the National Longitudinal Survey for Youth. Statistics and estimation results suggest that risk aversion may have a negative impact on the decision to attend college. Several potential endogeneity problems are discussed.

Suggested Citation

  • Stacey H. Chen, 2003. "Risk Aversion and College Attendance," Discussion Papers 03-03, University at Albany, SUNY, Department of Economics.
  • Handle: RePEc:nya:albaec:03-03

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    References listed on IDEAS

    1. Pedro Carneiro & Karsten T. Hansen & James J. Heckman, 2003. "Estimating Distributions of Treatment Effects with an Application to the Returns to Schooling and Measurement of the Effects of Uncertainty on College," NBER Working Papers 9546, National Bureau of Economic Research, Inc.
    2. Moshe Buchinsky & Phillip Leslie, 2010. "Educational Attainment and the Changing U.S. Wage Structure: Dynamic Implications on Young Individuals' Choices," Journal of Labor Economics, University of Chicago Press, vol. 28(3), pages 541-594, July.
    3. James M. Poterba & David A. Wise, 1998. "Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement," NBER Chapters,in: Privatizing Social Security, pages 363-401 National Bureau of Economic Research, Inc.
    4. Renate Schubert, 1999. "Financial Decision-Making: Are Women Really More Risk-Averse?," American Economic Review, American Economic Association, vol. 89(2), pages 381-385, May.
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    Cited by:

    1. Alexander Whalley, 2004. "Black-White Differences in the Insurance Value of Human Capital," Econometric Society 2004 North American Summer Meetings 575, Econometric Society.

    More about this item


    Risk Aversion; Schooling Choice;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials


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