Risk and career choice: Evidence from Turkey
Economics of Education Review Volume 29, Number 6 ISSN 0272-7757 Publisher: Elsevier Ltd
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.
Caner, A. & Okten, C. Risk and career choice: Evidence from Turkey. Economics of Education Review, 29(6), 1060-1075. Elsevier Ltd.