%0 Journal Article %1 Christiansen2007 %A Christiansen, Charlotte %A Joensen, Juanna Schröter %A Nielsen, Helena Skyt %D 2007 %J Labour Economics %K CAPM capital human return risk %N 6 %P 971 - 986 %R 10.1016/j.labeco.2007.06.001 %T The risk-return trade-off in human capital investment %U http://www.sciencedirect.com/science/article/pii/S0927537107000371 %V 14 %X In this paper, we analyze investments in human capital 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. Fields differ strongly not only in common rates of return, but also in return per unit of risk. We identify a range of educations that are efficient in terms of investment goods, and a range of educations that may be chosen for consumption purposes.

@article{Christiansen2007, abstract = {In this paper, we analyze investments in human capital 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. Fields differ strongly not only in common rates of return, but also in return per unit of risk. We identify a range of educations that are efficient in terms of investment goods, and a range of educations that may be chosen for consumption purposes.}, added-at = {2011-11-14T18:56:59.000+0100}, author = {Christiansen, Charlotte and Joensen, Juanna Schröter and Nielsen, Helena Skyt}, biburl = {https://www.bibsonomy.org/bibtex/2ac789300f6bb33f4d43509ab2b2d5869/dglocker}, doi = {10.1016/j.labeco.2007.06.001}, interhash = {e4a6cdc5390ad5e63e96f0faa77078a3}, intrahash = {ac789300f6bb33f4d43509ab2b2d5869}, issn = {0927-5371}, journal = {Labour Economics}, keywords = {CAPM capital human return risk}, note = {<ce:title>Education and Risk</ce:title> <ce:subtitle>Education and Risk S.I.</ce:subtitle>}, number = 6, pages = {971 - 986}, timestamp = {2011-11-14T18:56:59.000+0100}, title = {The risk-return trade-off in human capital investment}, url = {http://www.sciencedirect.com/science/article/pii/S0927537107000371}, volume = 14, year = 2007 }