Business, Management and Accounting
4 years ago

Compulsory education reduces extreme risk aversion in future generations.

Quantitative Economics
Childhood determinants of risk aversion: The long shadow of compulsory education
Dmytro Hryshko, María Luengo-Prado, Bent E. Sørensen

Paper Summary

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The study looked at why some people are very afraid of taking risks. They found that when more people finish high school, fewer people are extremely risk-averse in the next generation. Age, gender, and parents' attitudes towards risk also play a role. Being very risk-averse can affect how much money people make.