The risk-return trade-off in human capital investment
By: by Charlotte Christiansen, Juanna Schrt̜er Joensen, Helena Skyt Nielsen
Contributors: Joensen, Juanna Schrt̜er
Series: Discussion paper -- no. 1962; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 1962
Publisher: IZA
Published: 2006
Place of publication: Bonn, Germany
Language: eng
Format: [electronic resource] /
Subjects: Human capital; Accounting; Rate of return
Description: "In this paper we analyze investments in human capital assets in a way which is standard for financial assets, but not (yet) for human capital assets. We study mean-variance plots of human capital assets. We compare the properties of human capital returns using a performance measure and by using tests for mean-variance spanning. A risk-return trade-off is revealed, which is not only related to the length of education but also to the type of education. We identify a range of educations that are efficient in terms of investment goods, and a range of educations that are inefficient, and may be chosen for consumption purposes"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Title from PDF file as viewed on 2/14/2006.

Includes bibliographical references.

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