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Article . 2017
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Investment in Education Under Disappointment Aversion

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Research 01 Jan 2016 United Kingdom English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068, Copyright policy )
Authors: Cerrone, C.; Anderberg, D.;

doi: 10.2139/ssrn.2865573

handle: 10419/148906 , 11858/00-001M-0000-002B-B26D-9 , 11858/00-001M-0000-002D-876E-E

Investment in Education Under Disappointment Aversion

Abstract

This paper develops a model of risky investment in education under disappointment aversion, modelled as loss aversion around one's endogenous expectation. The model shows that disappointment aversion reduces investments in education for lower ability people and increases investments for higher ability people, thereby magnifying the gap between them generated by the riskiness of education.

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United Kingdom
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Keywords

D81 - Criteria for Decision-Making under Risk and Uncertainty, endogeneous reference points, I21 - Analysis of Education, education, ddc:330, L1, D81, disappointment aversion, D03 - Behavioral Microeconomics: Underlying Principles, D03, I21, risk

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
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Average
Average
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bronze