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Inversión en educación en México: Rendimientos y riesgo

Author

Listed:
  • Nadyra Rodriguez Arias

    (Universidad Autónoma de Querétaro, Mexico)

  • Julia Hirsch

    (Universidad Autónoma de Querétaro, Mexico)

  • Humberto Banda Ortiz

    (Universidad Autónoma de Querétaro, Mexico)

Abstract

To determine the convenience of investing in more years of education after graduating from high school, the aim is to analyze a scenario under uncertainty as well as the household valuation of risk given the US subprime bubble. By using real option value and expected utility the main results are: 1) The optimal choice is to invest in more years of education immediately after graduating from high school; 2) The expected utility of investing is higher for risk-averse households and 3) No important differences were found in the observed periods, except with the reduction in wages between 2009 and 2013.

Suggested Citation

  • Nadyra Rodriguez Arias & Julia Hirsch & Humberto Banda Ortiz, 2020. "Inversión en educación en México: Rendimientos y riesgo," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 35(1), pages 1-25, April.
    • Handle: RePEc:ila:anaeco:v:35:y:2020:i:1:p:1-25
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    References listed on IDEAS

    as
    1. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    2. Belzil, Christian & Leonardi, Marco, 2007. "Can risk aversion explain schooling attainments? Evidence from Italy," Labour Economics, Elsevier, vol. 14(6), pages 957-970, December.
    3. Mariano Rojas & Humberto Angulo & Irene Velázquez, 2000. "Rentabilidad de la inversión en capital humano en México," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(2), pages 113-142, July-Dece.
    4. Arnold C. Harberger & Sylvia Guillermo-Peón, 2012. "Estimating Private Returns to Education in Mexico," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 49(1), pages 1-35, May.
    5. Hwang, Wei-Yei & Liao, Shu-Yi & Huang, Mao-Lung, 2013. "Real option, human capital investment returns and higher educational policy," Economic Modelling, Elsevier, vol. 31(C), pages 447-452.
    6. Griliches, Zvi, 1977. "Estimating the Returns to Schooling: Some Econometric Problems," Econometrica, Econometric Society, vol. 45(1), pages 1-22, January.
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    More about this item

    Keywords

    Schooling investment returns; real option value; choice under uncertainty;
    All these keywords.

    JEL classification:

    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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