Unemployment influences people’s life satisfaction beyond negative income shocks. A large body of literature investigates these non-pecuniary costs of unemployment and stresses the importance of social identity and therefore social norms, especially for men. We add to this literature by...

Do the people around us influence our personality? To answer this question, we conduct an experiment with 543 university students who we randomly assign to study groups. Our results show that students become more similar to their peers along several dimensions. Students with more competitive...

How does group identity affect belief formation? To address this question, we conduct a series of online experiments with a representative sample of individuals in the US. Using the setting of the 2020 US presidential election, we find evidence of intergroup preference across three distinct...

We incorporate the concept of social identity into a stylized model of occupational choice and analyze whether an individual's identity affects his or her decision to become an entrepreneur. We argue that an entrepreneurial identity results from an individual's socialization. This could be...

Using data from the German Socio-Economic Panel from 1984-2009, we follow persons from their working life into their retirement years and find that, on average, employed people maintain their life satisfaction upon retirement, while long-term unemployed people report a substantial increase in...

We use the differences between life satisfaction and emotional well-being of employed and unemployed persons to analyze how a person's employment status affects cognitive well-being. Our results show that unemployment has a negative impact on cognitive, but not on affective well-being, which we...

A nascent but burgeoning literature examines the importance of non-cognitive skills in determining success across many facets of life. The majority of these papers treat these skills as fixed traits for adults. We estimate the impact of a number of life events on the Big Five personality traits...