Communication address public education financing, taking into account explicitly the risk aspects of private investment in education. Advantages of public education, financed from public funds, consist of lack of markets lies in that students can protect against risks, an example being the education taxes that depend on expected income from investment in education. Considering the risk, the uncertainty highlights a link hitherto omitted between educational choice, resource endowment and productivity growth, which may serve to redefine the role of public education.
human capital; cost in terms of success; certainty equivalent; private financing; public financing; risk education; tax on distributed profits of investment
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