Does Mental Productivity Decline with Age? Evidence from Chess Players
AbstractWe use data on international chess tournaments to study the relationship between age and mental productivity in a brain-intensive profession. We show that less talented players tend to leave the game in the earliest phases of their career. When the effects of age on productivity vary with unobserved ability, commonly used fixed effects estimators applied to raw data do not guarantee consistent estimates of age-productivity profiles. In our data, this method strongly over-estimates the productivity of older players. We apply fixed effects to first-differenced data and show that productivity peaks in the early forties and smoothly declines thereafter. Because of this, players aged 60 are 11 percent less productive than players in their early forties.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7311.
Length: 17 pages
Date of creation: Mar 2013
Date of revision:
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Find related papers by JEL classification:
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
This paper has been announced in the following NEP Reports:
- NEP-AGE-2013-04-20 (Economics of Ageing)
- NEP-ALL-2013-04-20 (All new papers)
- NEP-DEM-2013-04-20 (Demographic Economics)
- NEP-EFF-2013-04-20 (Efficiency & Productivity)
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