Maintaining (Locus of) Control?: Assessing the Impact of Locus of Control on Education Decisions and Wages
AbstractThis paper establishes that individuals with an internal locus of control, i.e., who believe that reinforcement in life comes from their own actions instead of being determined by luck or destiny, earn higher wages. However, this positive effect only translates into labor income via the channel of education. Factor structure models are implemented on an augmented data set coming from two different samples. By so doing, we are able to correct for potential biases that arise due to reverse causality and spurious correlation, and to investigate the impact of premarket locus of control on later outcomes.
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Bibliographic InfoPaper provided by DIW Berlin, The German Socio-Economic Panel (SOEP) in its series SOEPpapers on Multidisciplinary Panel Data Research with number 338.
Length: 51 p.
Date of creation: 2010
Date of revision:
locus of control; wages; latent factor model; data set combination;
Other versions of this item:
- Piatek, Rémi & Pinger, Pia R., 2010. "Maintaining (locus of) control? Assessing the impact of locus of control on education decisions and wages," ZEW Discussion Papers 10-093, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Piatek, Rémi & Pinger, Pia, 2010. "Maintaining (Locus of) Control? Assessing the Impact of Locus of Control on Education Decisions and Wages," IZA Discussion Papers 5289, Institute for the Study of Labor (IZA).
- C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-12-11 (All new papers)
- NEP-CBE-2010-12-11 (Cognitive & Behavioural Economics)
- NEP-LAB-2010-12-11 (Labour Economics)
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- John, Katrin & Thomsen, Stephan L., 2012. "Heterogeneous Returns to Personality - The Role of Occupational Choice," Diskussionspapiere der Wirtschaftswissenschaftlichen FakultÃ¤t der Leibniz UniversitÃ¤t Hannover dp-495, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Hendrik Thiel & Stephan L. Thomsen, 2009.
"Noncognitive Skills in Economics: Models, Measurement, and Empirical Evidence,"
FEMM Working Papers
09037, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
- Thiel, Hendrik & Thomsen, Stephan L., 2013. "Noncognitive skills in economics: Models, measurement, and empirical evidence," Research in Economics, Elsevier, vol. 67(2), pages 189-214.
- Thiel, Hendrik & Thomsen, Stephan L., 2009. "Noncognitive skills in economics: Models, measurement, and empirical evidence," ZEW Discussion Papers 09-076, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Thiel, Hendrik & Thomsen, Stephan L., 2011. "Noncognitive skills in economics: Models, measurement, and empirical evidence," ZEW Discussion Papers 09-076 [rev.], ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- McGee, Andrew & McGee, Peter, 2011. "Search, Effort, and Locus of Control," IZA Discussion Papers 5948, Institute for the Study of Labor (IZA).
- Michael Weinhardt & Jürgen Schupp, 2011. "Multi-Itemskalen im SOEP Jugendfragebogen," Data Documentation 60, DIW Berlin, German Institute for Economic Research.
- Judith Offerhaus, 2013. "The Type to Train? - Impacts of Personality Characteristics on Further Training Participation," SOEPpapers on Multidisciplinary Panel Data Research 531, DIW Berlin, The German Socio-Economic Panel (SOEP).
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