Are educational track decisions risky? Evidence from Sweden on the assumptions of risk-aversion models

Relative risk aversion (RRA) models explain class inequalities in education with reference to risk avoidance, i.e., the risky choice assumption (RCA). Whether education entails any risks has been subject to minimal scrutiny. In this paper, we test whether or not vocational education is a safety net that protects from marginalization but at the cost of limited access to tertiary education and service class positions. We present an empirical assessment for upper-secondary track choices in Sweden, contrasting the vocational and the academic tracks for those that do not pursue higher educational degrees. The only evidence in favor of the RCA is that when taking selection into account, graduates of the academic track without a tertiary degree initially face higher risks of not being stably employed in their early 20s than their counterparts from vocational education. Differences between secondary tracks in registered unemployment risks are small throughout the life course and, if anything, they favor the academic track for both genders and cohorts. Moreover, the academic track significantly protects men of both cohorts from the risk of entering unskilled routine occupations. We conclude that the support for the RCA is scant at best.

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Relative risk aversion models: How plausible are their assumptions?

Rationality and Society ◽

10.1177/1043463121994087 ◽

2021 ◽

pp. 104346312199408

Author(s):

Carlo Barone ◽

Katherin Barg ◽

Mathieu Ichou

Keyword(s):

Relative Risk ◽

Risk Aversion ◽

Loss Aversion ◽

Educational Inequality ◽

Risky Choice ◽

Relative Risk Aversion ◽

Downward Mobility ◽

Educational Decisions ◽

Empirically Supported ◽

Occupational Risks

This work examines the validity of the two main assumptions of relative risk-aversion models of educational inequality. We compare the Breen-Goldthorpe (BG) and the Breen-Yaish (BY) models in terms of their assumptions about status maintenance motives and beliefs about the occupational risks associated with educational decisions. Concerning the first assumption, our contribution is threefold. First, we criticise the assumption of the BG model that families aim only at avoiding downward mobility and are insensitive to the prospects of upward mobility. We argue that the loss-aversion assumption proposed by BY is a more realistic formulation of status-maintenance motives. Second, we propose and implement a novel empirical approach to assess the validity of the loss-aversion assumption. Third, we present empirical results based on a sample of families of lower secondary school leavers indicating that families are sensitive to the prospects of both upward and downward mobility, and that the loss-aversion hypothesis of BY is empirically supported. As regards the risky choice assumption, we argue that families may not believe that more ambitious educational options entail occupational risks relative to less ambitious ones. We present empirical evidence indicating that, in France, the academic path is not perceived as a risky option. We conclude that, if the restrictive assumptions of the BG model are removed, relative-risk aversion needs not drive educational inequalities.

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Kosten und Nutzen der Ausbildung an Tertiärbildungsinstitutionen im Vergleich

Perspektiven der Wirtschaftspolitik ◽

10.1111/j.1468-2516.2010.00330.x ◽

2010 ◽

Vol 11 (2) ◽

pp. 103-131 ◽

Cited By ~ 9

Author(s):

Regina T. Riphahn ◽

Martina Eschelbach ◽

Guido Heineck ◽

Steffen Müller

Keyword(s):

Regular Education ◽

Tertiary Education ◽

Cost Data ◽

Alternative Procedures ◽

The Cost ◽

Different Sources

AbstractWe compare German institutions of tertiary education (universities and polytechnics) with respect to the cost of and the returns to their educational degrees. Based on cost data from two different sources we find that on average the expenditures of universities are lower than those of polytechnics when we consider expenditures per potential enrollee and per student enrolled during the regular education period. We apply data from the German Socio-economic Panel (2001-2007) to estimate the private returns to tertiary education and find higher returns to university than polytechnic training. These results are robust to a variety of alternative procedures.

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PROFITABILITY ANALYSIS OF MARKETING OF FROZEN FISH IN KADUNA METROPOLIS, KADUNA STATE, NIGERIA

FUDMA Journal of Sciences ◽

10.33003/fjs-2020-0402-239 ◽

2020 ◽

Vol 4 (2) ◽

pp. 577-583

Author(s):

M. B. Usman ◽

O. S. Aaasa ◽

O. S. Balogun ◽

U. F. Yahaya

Keyword(s):

Tertiary Education ◽

Primary Data ◽

Integrated Marketing ◽

High Concentration ◽

Profitability Analysis ◽

Multi Stage ◽

Return On Capital ◽

Result Show ◽

Frozen Fish ◽

The Cost

This study investigated the marketing of frozen fish in Kaduna metropolis, Kaduna state. Ten (10) markets were purposively selected due to high concentration of frozen fish marketers and the volume of trading activities; Primary data were generated through the use of structured questionnaire administered to hundred (100) randomly selected retailers and fifteen (15) purposively selected wholesalers. The data were analyzed using descriptive statistic, budgeting technique, net marketing and rate of return on capital invested. The result show that majority 80 percent and 53 of the retailers and wholesalers were female, Majority (70prcent) of the retailers had primary education but most of the wholesaler’s attained tertiary education. The frozen fish marketing channels identified in the area are made up of zero and multi stage channels. Furthermore, the cost and return analysis revealed that the wholesalers realized about N121, 000.00 naira while the retailers got N56, 000.00 naira per month while return to per capital invested (RPCI) was 11 kobo and 22 kobo per Naira invested for the wholesalers and the retailers respectively. This implies that the enterprise is profitable. Transportation difficulties and marketing charges ranked were major constraints confronting frozen fish marketers. It is recommended that provision of good roads network and formidable integrated marketing system will further improve the profitability of the enterprise in the study area.

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Abstract 18: Patient-administered Home Inotrope Therapy: A Proof of Concept

Circulation Cardiovascular Quality and Outcomes ◽

10.1161/hcq.13.suppl_1.18 ◽

2020 ◽

Vol 13 (Suppl_1) ◽

Author(s):

Wally A Omar ◽

Chris Mathew ◽

Kavita Bhavan ◽

Sandeep R Das ◽

Jose A Joglar

Keyword(s):

Heart Failure ◽

Infusion Pump ◽

Cost Savings ◽

Safety Net ◽

Therapy Program ◽

Advanced Therapies ◽

Safety Net Hospital ◽

End Stage ◽

The Cost ◽

To Receive

Background: Palliative use of continuous IV inotrope therapy has shown to improve quality of life and reduce hospital readmissions for patients with end-stage heart failure (HF) who are otherwise ineligible to receive advanced therapies. Administration of home inotrope therapy generally requires a hospice or home-health agency, placing this option out of reach for patients who lack funding. As such, underinsured patients are relegated to the difficult choice of either remaining in the hospital to receive IV inotropes, or going home without the therapy for as long as their symptoms allow. To address this issue at our large county safety-net hospital, we developed and implemented a patient self-administered home inotrope therapy program. Methods: A multidisciplinary team of physicians, pharmacists, nurses, and social workers was assembled to pilot the program. Eligible patients were provided with a peripherally inserted central venous catheter (PICC) and a portable infusion pump. They were then instructed on proper use of the pump, medication administration, medication bag changes, and IV line care using a nursing teach-back technique. After proper understanding was demonstrated, patients were discharged home with weekly follow up in heart failure clinic for PICC-care and medication exchanges. Results: During the initial 12 months of the program, 5 patients were deemed eligible for enrollment. Total hospitalized days for these patients was 277 (mean = 55.4 days) in the one year prior to enrollment and 12 (mean = 2.4 days) while enrolled for a cumulative period of 288 days (Figure 1). One patient was able to secure funding for advanced therapies, two patients died while enrolled, and two patients are currently enrolled and alive. Discussion: A self-administered home IV inotrope therapy program is a feasible alternative for palliation in unfunded patients with end-stage HF who are otherwise not candidates for advanced therapies, allowing for more days at home in the end of life. Thus far, the cost impact of the program has been mitigated by the cost savings for inpatient hospitalizations. Studies to assess patient-centered outcomes, and overall cost savings are ongoing.

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Academic and Vocational Tracking in Upper Secondary Education

Unequal Attainments ◽

10.5871/bacad/9780197265741.003.0005 ◽

2014 ◽

Cited By ~ 1

Author(s):

Laurence Lessard-Phillips ◽

Yaël Brinbaum ◽

Anthony Heath

Keyword(s):

Minority Students ◽

Minority Groups ◽

Educational Systems ◽

High Status ◽

Full Time ◽

Upper Secondary Education ◽

Majority Group ◽

Academic Track ◽

Upper Secondary ◽

Academic Tracks

This chapter focuses on students who continue in full-time education after compulsory schooling and asks whether minority students are disproportionately channelled into lower-status vocational tracks and are excluded from the high-status academic tracks which lead to higher education. The picture that emerges is of distinct patterns in different sets of countries. In Belgium, Germany and the Netherlands, minority groups are less likely to follow the academic track, but this under-representation can be entirely explained by their disadvantaged socioeconomic backgrounds and relatively low grades in lower secondary school. However, in a second group of countries – England and Wales, Finland, France and Sweden –most minorities are in fact more likely to follow the academic track than their majority-group peers from similar socioeconomic backgrounds and with similar grades. The indications are that comprehensive systems offer greater opportunities for minority students to fulfil their ambitions than do tracked educational systems.

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Risky choice and risk aversion

Microeconomic Theory second edition ◽

10.4324/9780203098356-30 ◽

2013 ◽

pp. 747-789

Keyword(s):

Risk Aversion ◽

Risky Choice

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Still a safety net? Revisiting the role of vocational education and training in school-to-work transitions in Europe

Research Handbook on the Sociology of Education ◽

10.4337/9781788110426.00028 ◽

2019 ◽

pp. 329-346

Author(s):

Irena Kogan

Keyword(s):

Vocational Education ◽

Safety Net ◽

Education And Training ◽

School To Work ◽

Vocational Education And Training ◽

Work Transitions ◽

And Training

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The affordability of prescription medicines in Australia: are copayments and safety net thresholds too high?

Australian Health Review ◽

10.1071/ah11153 ◽

2013 ◽

Vol 37 (1) ◽

pp. 32 ◽

Cited By ~ 13

Author(s):

Andrew Searles ◽

Evan Doran ◽

Thomas A Faunce ◽

David Henry

Keyword(s):

Financial Burden ◽

Monitoring And Evaluation ◽

Access To Medicines ◽

Safety Net ◽

Cross Sectional Study ◽

Self Report ◽

Cross Sectional ◽

Prescription Medicines ◽

Main Determinants ◽

The Cost

Objective. To create and report survey-based indicators of the affordability of prescription medicines for patients in Australia. Method. A cross-sectional study of 1502 randomly selected participants in the Hunter Region of NSW, were interviewed by telephone. Main outcome measure. The self-reported financial burden of obtaining prescription medicines. Results. Data collection was completed with a response rate of 59.0%. Participants who had received and filled at least one prescription medicine in the previous 3 months, and eligible for analysis (n=952), were asked to self-report the level of financial burden from obtaining these medicines. Extreme and heavy financial burdens were reported by 2.1% and 6.8% of participants, respectively. A moderate level of burden was experienced by a further 19.5%. Low burden was recorded for participants who said that their prescription medicines presented either a slight burden (29.0%) or were no burden at all (42.6%). Conclusion. A substantial minority of participants who had obtained prescription medicines in the 3 months prior to survey experienced a level of financial burden from the cost of these medicines that was reported as being moderate to extreme. What is known about the topic? The Australian National Medicines Policy aims to, amongst other things, facilitate access to medicines at a cost that is affordable to individuals and the community. Copayments combined with the safety net and brand price premium are the main determinants of the amount that patients pay for PBS listed prescription medicines. Previous surveys have reported on selected aspects of medicine affordability in Australia and have shown some groups in the population experience difficulty with the cost of their medicines. What does this paper add? This paper develops and reports on a set of indicators that can be used to periodically measure the level of self-reported financial burden experienced by Australians when obtaining prescription medicines. The analysis assesses affordability issues for both general patients and patients who are able to access prescription medicines using a concession card. What are the implications? Our research suggests that, as they stand, the copayment and safety net thresholds are not protecting nearly one-third of Australian patients from financial burden. Ongoing monitoring and evaluation is required to ensure the copayment and safety net thresholds do not jeopardise the National Medicines Policy’s principle of equitable and affordable access to medicines.

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