We model individual careers in sports and games from initial entry to eventual exit or success as a discrete-choice, finite-horizon optimization problem. We apply this model to the international game of chess and study cross-country differences in the relative success of players. While we find...

This paper analyzes the link between young people's sense (locus) of control over their lives and their investments in education. We find that young people with a more internal locus of control have a higher probability of finishing secondary school and, conditional on completion, meeting the...

We use a large, nationally-representative sample of working-age adults to demonstrate that personality (as measured by the Big Five) is stable over a four-year period. Average personality changes are small and do not vary substantially across age groups. Intra-individual personality change is...

This paper reviews the empirical economic literature on the relative importance of non cognitive skills for school and labour market outcomes, with a focus on Europe. There is evidence that high cognitive test scores are likely to result not only from high cognitive skills but also from high...

This paper studies how schooling admission tests affect economic performance in an economy where individuals are endowed with both academic and non academic abilities and both abilities matter for labor productivity. We develop a simple model with selective government held schools, where...

We develop a simple search equilibrium model of workplace training and education based on two features. First, investment in education improves job-related learning skills and reduces training costs burdened by firms. Second, firms with vacant skilled job slots can choose between recruitment...

Empirical studies of the role of non-cognitive skills in driving economic behavior often rely heavily on the assumption that these skills are stable over the relevant time frame. We analyze the change in a specific non-cognitive skill, i.e. locus of control, in order to directly assess the...

We provide the first estimates of the impact of managers' risk preferences on their training allocation decisions. Our conceptual framework links managers' risk preferences to firms' training decisions through the bonuses they expect to receive. Risk-averse managers are expected to select...

This study investigates the predictive power of self-control for individuals and their children using population representative data. We use the well-established Brief Self-Control Scale to demonstrate that people's trait self-control is highly predictive of their life outcomes. Higher...

We analyze workers' risk preferences and training investments. Our conceptual framework differentiates between the investment risk and insurance mechanisms underpinning training decisions. Investment risk leads risk-averse workers to train less; they undertake more training if it insures them...