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The importance of early conscientiousness for socio-economic outcomes: evidence from the British Cohort Study

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  • By Tyas Prevoo
  • Bas ter Weel

Abstract

This research estimates models of the importance of conscientiousness for socio-economic outcomes. We use measures of conscientiousness at age 16 to explain adult wages and other outcomes, such as employment, education, health, and savings behaviour. We use several waves from the 1970 British Cohort Study. Our estimates suggest a significant and sizeable correlation between early conscientiousness and adult outcomes. Measurement error is corrected for by applying IV techniques, errors-in-variables estimators, and structural equation modelling. Investigation of the lower-order structure of conscientiousness suggests that facets related to reliability, decisiveness, and impulse control are most strongly correlated with outcomes. We also investigate changes in early conscientiousness and find that persons who experience declines in the personality distribution between the ages 10 and 16 seem to be worse off in terms of a variety of socio-economic outcomes.

Suggested Citation

  • By Tyas Prevoo & Bas ter Weel, 2015. "The importance of early conscientiousness for socio-economic outcomes: evidence from the British Cohort Study," Oxford Economic Papers, Oxford University Press, vol. 67(4), pages 918-948.
    • Handle: RePEc:oup:oxecpp:v:67:y:2015:i:4:p:918-948.
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    File URL: http://hdl.handle.net/10.1093/oep/gpv022
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    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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