We construct a structural model of entry into self-employment to evaluate the impact of policies supporting entrepreneurship. Previous work has recognized that workers may opt for self-employment due to the non-pecuniary benefits of running a business and not necessarily because they are good at...

We review the extensive literature since 2000 on the personality traits of entrepreneurs. We first consider baseline personality traits like the Big-5 model, self-efficacy and innovativeness, locus of control, and the need for achievement. We then consider risk attitudes and goals and...

Does the historical macroeconomic environment affect preferences for redistribution? We find that individuals who experienced a recession when young believe that success in life depends more on luck than effort, support more government redistribution, and tend to vote for left-wing parties. The...

We study the effect of birth order on personality traits among men using population data on enlistment records and occupations for Sweden. We find that earlier born men are more emotionally stable, persistent, socially outgoing, willing to assume responsibility, and able to take initiative than...

We characterize the factors that determine who becomes an inventor in the United States, focusing on the role of inventive ability (“nature”) vs. environment (“nurture”). Using deidentified data on 1.2 million inventors from patent records linked to tax records, we first show that...

Based on two samples of high quality personality data for chief executive officers (CEOs), we use linguistic features extracted from conferences calls and statistical learning techniques to develop a measure of CEO personality in terms of the Big Five traits: agreeableness, conscientiousness,...

We use credit report data to study consumer financial distress in America. We show there are large, persistent disparities in financial distress across regions. To understand these patterns, we conduct a “movers” analysis. For collections and default, there is only weak convergence following...

This paper explores the power of personality traits both as predictors and as causes of academic and economic success, health, and criminal activity. Measured personality is interpreted as a construct derived from an economic model of preferences, constraints, and information. Evidence is...

This paper discusses and illustrates identification problems in personality psychology. The measures used by psychologists to infer traits are based on behaviors, broadly defined. These behaviors are produced from multiple traits interacting with incentives in situations. In general, measures...

Research on the causes of delinquency has a long research history, often with an undue focus on how cognitive ability serves as the main predictor of delinquent activity. The current review examines interventions that focus on psychological factors other than cognitive ability, and discusses how...