Vijverberg, W.P.M.

risk aversion individual ability aversion variance distribution worker estimate model earning income compensation hartog parameter coef ficient wage premiums difference premium selection education 123 self-selection bias utility value function increase lognormal income risk parameter values paper equation ficient effect regression earnings risk risk attitude result jacob ∗ − heterogeneity wage gap self-selection component selectivity attitude lognormal distribution price risk attitudes risk premium speci student assumption underestimation choice threshold hartog j serrano regression coef ficient risk compensation ability variation increases choice model wage regression ∗ ∗ ∗ σ ln ε fication dispersion wage differentials simulation panel 2 ρσε wage differences shock ols estimate ρσ 2 ∗ selectivity bias expectation advantage panel data occupation universiteit van amsterdam vijverberg