Risk and career choice: evidence from Turkey

Date
2010
Authors
Caner, A.
Okten, C.
Advisor
Instructor
Source Title
Economics of Education Review
Print ISSN
0272-7757
Electronic ISSN
1873-7382
Publisher
Pergamon Press
Volume
29
Issue
6
Pages
1060 - 1075
Language
English
Type
Article
Journal Title
Journal ISSN
Volume Title
Abstract

In this paper, we examine the college major choice decision in a risk and return framework using university entrance exam data from Turkey. Specifically we focus on the choice between majors with low income risk such as education and health and others with riskier income streams. We use a unique dataset that allows us to control for the choice set of students and parental attitudes towards risk. Our results show that father's income, self-employment status and social security status are important factors influencing an individual in choosing a riskier career such as business over a less risky one such as education or health. © 2010 Elsevier Ltd.

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Other identifiers
Book Title
Keywords
Career choice, Education, Income, Labor income risk, Turkey, Decision making, Income distribution, Risk assessment, Self employment, Social security, Socioeconomic status
Citation
Published Version (Please cite this version)