Deciding under Doubt: A Theory of Risk Aversion, Time Discounting Preferences, and Educational Decision-making
Deciding under Doubt: A Theory of Risk Aversion, Time Discounting Preferences, and Educational Decision-making
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DOI：
10.1093/esr/jcu039
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发表时间：
2014-04-01
影响因子：
3.2
通讯作者：
Jaeger, Mads Meier
中科院分区：
文献类型：
--
作者：
Breen, Richard;van de Werfhorst, Herman G.;Jaeger, Mads Meier
我们建立了一个教育决策的理性选择模型，其中教育选择的效用取决于学生的风险厌恶和时间贴现偏好。我们论证了风险规避和时间贴现偏好在中学教育不同轨道选择中的作用，以及在中介社会经济背景对这些选择的影响。丹麦中等教育的入学决策提供了我们的实证例子，结果总体上与所提出的理论一致，即(i)风险厌恶阻止学生选择具有学术挑战性但经济回报高的中等教育学术轨道，（ii）时间贴现率低的学生特别有可能进入学术轨道。(3)社会经济条件较好的学生在做出教育决策时不受风险规避的影响。
We develop a rational choice model of educational decision-making in which the utility of educational choices depends on students' risk aversion and their time discounting preferences. We argue for the role of risk aversion and time discounting preferences in the choice of different tracks in secondary education and in mediating the impact of socioeconomic background on such choices. Enrolment decisions in Danish secondary education provide our empirical example, and the results are generally in line with the proposed theory in that (i) risk aversion deters students from choosing the academically challenging but economically rewarding academic track in secondary education, (ii) students with a low time discount rate are particularly likely to enter the academic track, and (iii) students from advantaged socioeconomic backgrounds are not affected by risk aversion when making educational decisions.