Benjamin W. Arold prepared this study while he was working at the Center for Economics of Education at the ifo Institute. The study was completed in March 2022 and accepted as doctoral thesis by the Department of Economics at the LMU Munich. It consists of four distinct empirical essays that...

This paper develops a dynamic model of schooling and occupational choices that incorporates personality traits, as measured by the "big five" traits. The model is estimated using the HILDA dataset from Australia. Personality traits are found to play an important role in explaining education and...

This paper considers the identification and estimation of an extension of Roy's model (1951) of occupational choice, which includes a non-pecuniary component in the decision equation and allows for uncertainty on the potential outcomes. This framework is well suited to various economic contexts,...