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- W2024604310 abstract "We extend the theory of human capital investment under uncertainty by incorporating post-investment labor supply as a choice variable. We show that human capital investment decreases in response to an increase in risk about its return if such investment is an inferior activity and preferences exhibit decreasing risk aversion. However, if investment is normal, then the effect of an increase in risk is indeterminate. These results highlight the importance of obtaining empirical evidence on the income elasticity of demand for human capital investment for arriving at refutable hypotheses about the effect of risk." @default.
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- W2024604310 date "1990-02-01" @default.
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- W2024604310 title "Human Capital Investment and Labor Supply Under Uncertainty" @default.
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- W2024604310 doi "https://doi.org/10.2307/2526637" @default.
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