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Table of contents
Introduction générale
1 Specialization during Education
1.1 Model
1.1.1 Schooling decisions
1.1.2 Labor Market Alternatives
1.1.3 Identication Issues
1.2 Data
1.2.1 The Generation 98 Panel Data
1.2.2 Computing Capacity Constraints of Schools
1.2.3 Descriptive Analysis of labor market trajectories
1.3 Results
1.3.1 Distinct Returns of Specializations
1.3.2 Costs of schooling
1.3.3 Labor market trajectories
1.3.4 Ex-ante returns to schooling
1.A Summary of Notations
1.B Model Likelihood
1.B.1 Labor market contributions
1.B.2 Schooling contributions
1.C Estimates
1.C.1 Schooling costs Intercepts
1.C.2 Oers arrival rate
2 Evidence on Risk Aversion and Psychological Traits
2.1 The GSOEP Data
2.1.1 The German Education System
2.1.2 Risk Aversion Measurement
2.1.3 Non Cognitive Traits
2.1.4 Cognitive Skills
2.1.5 Social Preferences : Trust and Reciprocity
2.1.6 Parental Background Variables
2.2 The Econometric Model
2.2.1 Dening Risk Aversion
2.2.2 Modeling Psychological Factors and Risk Aversion
2.2.3 Measurement Equations
2.2.4 Identication of the Factor Structure
2.2.5 Estimation Method and Likelihood Function
2.3 Empirical Results
2.3.1 The Distribution of Factors and Dierences between Tracks
2.3.2 The Correlation betweens Factors and Risk Aversion
2.4 Concluding Remarks
2.A Psychometric Questions in the GSOEP
2.A.1 Locus of control
2.A.2 Conscientiousness
2.A.3 Trust
2.A.4 Positive Reciprocity
2.B Descriptive Statistics
2.C Counterfactual Distributions
3 Risk Tolerance and Life Cycle Income Proles
3.1 Modeling Risk Tolerance
3.1.1 The Lottery and CRRA Assumption
3.1.2 Risk Tolerance Categories
3.2 A Model of Life-Cycle Income Proles
3.3 Results
3.3.1 Sample description
3.3.2 Model estimates
3.3.3 Eect of the Estimated Risk Tolerance
3.A Estimating Risk Tolerance From the PSID
3.B From Initial sample to proper data
3.C Full Model Estimates
Bibliographie
