
handle: 10419/33370
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.
educational choice, mean-variance analysis, Bildungsinvestition, ddc:330, Bildungsverhalten, efficient frontier, J24, Bildungsertrag, Educational Choice; Efficient Frontier; Human Capital Investment; Mean-Variance Analysis, human capital investment, Rendite, Humankapital, Risiko, I21
educational choice, mean-variance analysis, Bildungsinvestition, ddc:330, Bildungsverhalten, efficient frontier, J24, Bildungsertrag, Educational Choice; Efficient Frontier; Human Capital Investment; Mean-Variance Analysis, human capital investment, Rendite, Humankapital, Risiko, I21
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