DP1808 Risk, Resources and Education
|Author(s):||Robert K von Weizsäcker, Berthold Wigger|
|Publication Date:||March 1998|
|Keyword(s):||choice under certainty, Public Education, tuitions fees|
|JEL(s):||D81, H52, I22|
|Programme Areas:||Human Resources|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=1808|
The paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. A case is made for tuition fees, which depend on expected return on investments in education. The consideration of uncertainty provides a neglected link between educational choice, resource endowment and productivity growth, that may serve to redefine the public role of education financing.