“…This appalling condition has spurred the interest of policy makers and scholars to investigate the possible causes and to suggest solutions to mitigating the poor learning outcomes. In developing countries, aside socio-economic factors, empirical studies have attributed the poor learning outcomes to factors such as lack of teaching resources and learning materials (Mupa & Chinooneka, 2015); malnutrition and child health (Glewwe & Miguel, 2007); dearth of health financing programmes ( Kofinti, Baako-Amponsah, & Danso, 2022); poverty and loss of confidence in education (Imoro, 2010;Koomson & Afoakwah, 2023); child labour (Heady, 2000;Frempong & Stadelmann, 2021); underdeveloped school infrastructure (Chowa, Masa, Ramos & Ansong, 2015); and longer distance travelled to and from school and teacher absenteeism (Afoakwah & Koomson, 2021;Nunoo, Taale, Sebu, & Adama, 2023). However, studies in advanced countries like Italy, Germany, USA, and Mexico have alluded that the risk attitudes of households are key contributing factors to the poor educational outcomes of children (Brown, Ortiz Nunez, & Taylor, 2006;Checchi, Fsiorio, & Leonardi, 2014;Mu & Du, 2017;Sovero, 2018).…”