Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/42215
Authors: 
Piatek, Rémi
Pinger, Pia R.
Year of Publication: 
2010
Series/Report no.: 
ZEW Discussion Papers 10-093
Abstract: 
This 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.
Subjects: 
locus of control
wages
latent factor model
data set combination
JEL: 
C31
J24
J31
Document Type: 
Working Paper

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