Maintaining (Locus of) Control?: Assessing the Impact of Locus of Control on Education Decisions and Wages
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.
Year of publication: |
2010
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Authors: | Piatek, Rémi ; Pinger, Pia |
Institutions: | Forschungsbasierte Infrastruktureinrichtung "Sozio-oekonomisches Panel (SOEP)", DIW Berlin (Deutsches Institut für Wirtschaftsforschung) |
Subject: | locus of control | wages | latent factor model | data set combination |
Saved in:
freely available
Extent: | application/pdf |
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Series: | SOEPpapers on Multidisciplinary Panel Data Research. - ISSN 1864-6689. |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Number 338 51 pages long |
Classification: | C31 - Cross-Sectional Models; Spatial Models ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc |
Source: |
Persistent link: https://www.econbiz.de/10008754942