Journal Article10.1016/J.LABECO.2007.08.002
On compensation for risk aversion and skewness affection in wages
Joop Hartog,Wim P.M. Vijverberg +1 more
TL;DR: In this paper, the authors present extensive empirical testing of the hypothesis that greater post-schooling earnings risk requires higher expected returns, and they find that workers not only care about risk but also about the skewness in the distribution of the compensation paid.
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About: This article is published in Labour Economics. The article was published on 01 Dec 2007. The article focuses on the topics: Skewness & Risk aversion.
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Citations
Compensating wage differentials for schooling risk in Denmark
TL;DR: In this article, the authors analyse the association between wage differentials and risk using detailed information on length and type of education as seen in Danish administrative registers, and find that wage risk in a given education cell is associated with higher wages.
The Impact of New Public Management Instruments on PhD Education.
Peter Schneider,Dieter Sadowski +1 more
TL;DR: In this paper, the steering effects of six new public management instruments in the years 2001 and 2002 on subsequent placement success of PhD graduates were investigated based on an explorative analysis of qualitative and quantitative data of fourteen German and European economics departments.
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Do Students Expect Compensation for Wage Risk
TL;DR: In this article, the authors use a unique data set about the wage distribution that Swiss students expect for themselves ex ante, deriving parametric and non-parametric measures to capture expected wage risk.
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Educational segregation and the gender wage gap in Greece
TL;DR: This paper investigated the extent to which differences in the subject of degree studied by male and female university graduates contributes to the gender pay gap in Greece, an EU country with historically large gender discrepancies in earnings and occupational segregation.
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Local thinking and skewness preferences
TL;DR: In this paper, the authors show that in continuous models of stimulus-driven attention, each lottery has a unique certainty equivalent that is monotonic in probabilities (i.e., it monotonically increases if probability mass is shifted to more favorable outcomes).
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References
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Eliciting Student Expectations of the Returns to Schooling
TL;DR: The authors report on the design and first application of an interactive computer-administered personal interview (CAPI) survey eliciting from high school students and college undergraduates their expectations of the income they would earn if they were to complete different levels of schooling.
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An Empirical Analysis of Risk Aversion and Income Growth
TL;DR: In this paper, a model of the joint investment in financial wealth and human wealth was developed to show that human capital investment is an inverse function of the degree of relative risk aversion.
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Portfolio Choice and Liquidity Constraints
TL;DR: In this article, the authors study the infinite-horizon model of household portfolio choice under liquidity constraints and revisit the portfolio specialization puzzle, and find that relatively small fixed costs for stock market entry are sufficient to deter stockholding, and that households can achieve desired consumption smoothing with small or zero holdings of stocks.
The measurement of welfare and well-being: the Leyden approach
B.M.S. van Praag,Paul Frijters +1 more
- 01 Jan 1999
TL;DR: In this article, the authors present a general approach to cardinal utility measurement based on verbal quali...ers, including the Leyden approach, and the shape of the welfare function.