The risk-return trade-off in human capital investment
by Charlotte Christiansen
"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.
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Title from PDF file as viewed on 2/14/2006.
Includes bibliographical references.
Also available in print.
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Mode of access: World Wide Web.
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