LIFETIME UNCERTAINTY, HUMAN CAPITAL AND PHYSICAL CAPITAL

ASSAF RAZIN

doi:10.1111/j.1465-7295.1976.tb00431.x

LIFETIME UNCERTAINTY, HUMAN CAPITAL AND PHYSICAL CAPITAL

ASSAF RAZIN^*

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

Abstract

This paper demonstrates that the non‐inheritability of human capital makes investment in it fundamentally different from investment in physical capital when lifetime is uncertain. A simple two‐period model is used to highlight the effect of lifetime uncertainty on the optimal investment in human capital with and without markets for life insurance.

Original language	English
Pages (from-to)	439-448
Number of pages	10
Journal	Economic Inquiry
Volume	14
Issue number	3
DOIs	https://doi.org/10.1111/j.1465-7295.1976.tb00431.x
State	Published - Sep 1976

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

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10.1111/j.1465-7295.1976.tb00431.x

Cite this

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LIFETIME UNCERTAINTY, HUMAN CAPITAL AND PHYSICAL CAPITAL

Abstract

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