Both educational expenditures and attainment have increased sharply over the last decades, despite rising prices of education, and stagnating income returns to human capital. This paper emphasizes conditional employment risks diversification as additional motivation for education demand. Job...

Protecting society’s most vulnerable members and avoiding medical triage decisions arguments were often used to warrant the substantial COVID-19 reallocation of economic and health care resources, raising the arbitrage between the value of lives saved vs (i) the opportunity cost of resources...

The Human Capital (HK) and Statistical Life Values (VSL) differ sharply in their empirical pricing of a human life and lack a common theoretical background to justify these differences. We first contribute to the theory and measurement of life value by providing a unified framework to formally...

The twin arguments of (i) protecting society's most vulnerable members (e.g. agents with pre-existing medical conditions, elders) from life-threatening complications and (ii) avoiding delicate medical triage decisions were often used to warrant the substantial reallocation of economic and health...