Time preference is a key determinant of investments in human capital and occupational choice. Individuals with higher discount rates are less likely to invest in human capital and hence more likely to select into careers with lower and flatter earnings profiles. Since discount rates are...

We use two panels of data from the 1970s and the 1980s Surveys of Natural and Social Scientists and Engineers, and other data sources, to study the trends in the earnings of economists and other holders of bachelor, masters, and PhD degrees in science and engineering fields. Detailed comparisons...