In this paper, we examine which dimensions of cognitive ability are most predictive of key financial outcomes and what pathways could account for the observed relationships. We begin by proposing a conceptual framework that accounts for several plausible "channels" through which dif- ferences in...

Both economists and psychologists are interested in understanding decision making under uncertainty. Yet, they rely on different concepts to analyse human behaviour: Economists use economic preference parameters rooted in utility theory, while psychologists use personality traits to describe...

We study response behavior in surveys and show how the explanatory power of self-reports can be improved. First, we develop a choice model of survey response behavior under the assumption that the respondent has imperfect self-knowledge about her individual characteristics. In panel data, the...

We summarize the experimentally measured characteristics of the regis- tered participants of the experiments conducted at the Institute of Social and Economic Research, Osaka University. Measured characteristics include uid intelligence, risk preference (risk aversion, prudence, and temperance),...

Wenn es um Geld geht, glauben wir, dass wir bestimmte Fakten, Regeln und Gesetzmäi︣gkeiten kennen müssen. Wir gehen davon aus, die Welt der Finanzen sei die Welt der Mathematik, in der Daten und Formeln einem exakt sagen, wie man sich verhalten soll - und die Menschen würden sich dann...

A large literature establishes that cognitive and non-cognitive skills are strongly correlated with educational attainment and professional achievement. Isolating the causal effects of these traits on career outcomes is complicated by reverse causality and selection issues. We suggest a new...

This article investigates the extent to which personality traits and cognitive skills can be seen as potential determinants of overeducation, and can explain the overeducation wage penalty. Using a representative survey of the Polish working-age population with well-established measures of...

A large literature establishes that cognitive and non-cognitive skills are strongly correlated with educational attainment and professional achievement. Isolating the causal effects of these traits on career outcomes is made difficult by reverse causality and selection issues. We suggest a...