Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/226813 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 1113
Verlag: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Zusammenfassung: 
We analyze workers' risk preferences and training investments. Our conceptual framework differentiates between the investment risk and insurance mechanisms underpinning training decisions. Investment risk leads risk-averse workers to train less; they undertake more training if it insures them against future losses. We use the German Socio-Economic Panel (SOEP) to demonstrate that risk affinity is associated with more training, implying that, on average, investment risks dominate the insurance benefits of training. Crucially, this relationship is evident only for general training; there is no relationship between risk attitudes and specific training. Thus, as expected, risk preferences matter more when skills are transferable { and workers have a vested interest in training outcomes { than when they are not. Finally, we provide evidence that the insurance benefits of training are concentrated among workers with uncertain employment relationships or limited access to public insurance schemes.
Schlagwörter: 
Human Capital Investment
Work-related Training
Risk Preferences
JEL: 
J24
C23
D81
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
542.3 kB





Publikationen in EconStor sind urheberrechtlich geschützt.