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Noncognitive skills in economics: Models, measurement, and empirical evidence

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  • Thiel, Hendrik
  • Thomsen, Stephan L.

Abstract

There is an increasing economic literature considering personality traits as a source of individual differences in labor market productivity and other outcomes. This paper provides an overview on the role of these skills regarding three main aspects: measurement, development over the life course, and outcomes. Based on the relevant literature from different disciplines, the common psychometric measures used to assess personality are discussed and critical assumptions for their application are highlighted. We sketch current research that aims at incorporating personality traits into economic models of decision making. A recently proposed production function of human capital which takes personality into account is reviewed in light of the findings about life cycle dynamics in other disciplines. Based on these foundations, the main results of the empirical literature regarding noncognitive skills are briefly summarized. Moreover, we discuss common econometric pitfalls that evolve in empirical analysis of personality traits and possible solutions. --

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Bibliographic Info

Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 09-076 [rev.].

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Date of creation: 2011
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Handle: RePEc:zbw:zewdip:09076r

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Keywords: noncognitive skills; personality; human capital formation; psychometric measures;

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References

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  1. Lex Borghans & Huub Meijers & Bas Ter Weel, 2008. "The Role Of Noncognitive Skills In Explaining Cognitive Test Scores," Economic Inquiry, Western Economic Association International, vol. 46(1), pages 2-12, 01.
  2. Hansen, Karsten T. & Heckman, James J. & Mullen, Kathleen J., 2003. "The Effect of Schooling and Ability on Achievement Test Scores," IZA Discussion Papers 826, Institute for the Study of Labor (IZA).
  3. Borghans, Lex & Golsteyn, Bart H.H. & Heckman, James J. & Humphries, John Eric, 2011. "Identification Problems in Personality Psychology," IZA Discussion Papers 5605, Institute for the Study of Labor (IZA).
  4. Nils Braakmann, 2009. "Psychological traits and the gender gap in full-time employment and wages: Evidence from Germany," Working Paper Series in Economics 112, University of Lüneburg, Institute of Economics.
  5. S. Kolm & Jean Mercier Ythier (ed.), 2006. "Handbook of the Economics of Giving, Altruism and Reciprocity," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier, edition 1, volume 2, number 2.
  6. Coneus, Katja & Gernandt, Johannes & Saam, Marianne, 2009. "Noncognitive skills, school achievements and educational dropout," ZEW Discussion Papers 09-019, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  7. 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).
  8. Heineck, Guido & Anger, Silke, 2010. "The Returns to Cognitive Abilities and Personality Traits in Germany," EconStor Open Access Articles, ZBW - German National Library of Economics.
  9. Thomas DeLeire & Margo Coleman, 2000. "An Economic Model of Locus of Control and the Human Capital Investment Decision," Working Papers 0019, Harris School of Public Policy Studies, University of Chicago.
  10. S. Kolm & Jean Mercier Ythier (ed.), 2006. "Handbook of the Economics of Giving, Altruism and Reciprocity," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier, edition 1, volume 1, number 1.
  11. John, Katrin & Thomsen, Stephan L., 2012. "Heterogeneous Returns to Personality - The Role of Occupational Choice," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Leibniz Universität Hannover dp-495, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Weekly Wisdom Roundup # 57 (Weeklong Reading For The Smarter People)
    by Miguel in Simoleon Sense on 2009-12-21 02:39:20
  2. Non-cognitive skills
    by Kevin Denny in Geary Behaviour Centre on 2009-12-20 16:05:00
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Cited by:
  1. Hussey, Andrew, 2011. "The effect of ethics on labor market success: Evidence from MBAs," Journal of Economic Behavior & Organization, Elsevier, vol. 80(1), pages 168-180.

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