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dc.contributor.authorPiatek, Rémien_US
dc.contributor.authorPinger, Pia R.en_US
dc.date.accessioned2011-06-28en_US
dc.date.accessioned2011-06-28T13:56:48Z-
dc.date.available2011-06-28T13:56:48Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/46165-
dc.description.abstractThis paper demonstrates that locus of control, i.e. whether individuals believe that reinforcement in life comes from their own actions instead of being determined by luck or destiny, is an important predictor of the decision to obtain higher education. Furthermore, the authors find that premarket locus of control, defined as locus of control measured at the time of schooling - before the individual enters the labor market - does not significantly affect later wages after controlling for education decisions. In light of the existing literature, which finds mostly positive effects of contemporaneous locus of control measures on wages, this indicates that it is important to distinguish between premarket skills and those that are already influenced by labor market experience and age. Last, simulation of the model shows that moving individuals from the first to the last decile of the locus of control distribution significantly shifts the distribution of schooling choices, thus indirectly affecting later wages. The paper conveys important policy implications. If some personality traits, such as locus of control, influence the cost of education but not outcomes directly, these individual characteristics may keep individuals from studying who, once they reach the labor market, are no less successful than other individuals. If these individuals are at high risk of dropping out of school, early personality tests and targeted mentoring of students with an external locus of control are a means to countervail skill shortages in society.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5289en_US
dc.subject.jelC31en_US
dc.subject.jelJ24en_US
dc.subject.jelJ31en_US
dc.subject.ddc330en_US
dc.subject.keywordlocus of controlen_US
dc.subject.keywordwagesen_US
dc.subject.keywordlatent factor modelen_US
dc.subject.keyworddata set combinationen_US
dc.titleMaintaining (locus of) control? Assessing the impact of locus of control on education decisions and wagesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn663205212en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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