Maintaining (locus of) control? : Assessing the impact of locus of control on education decisions and wages

Piatek, Rémi ; Pinger, Pia

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URN: urn:nbn:de:bsz:180-madoc-30933
Document Type: Working paper
Year of publication: 2010
The title of a journal, publication series: ZEW Discussion Papers
Volume: 10-093
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 300 Social sciences, sociology, anthropology
Classification: JEL: C31 , J24 , J31,
Subject headings (SWD): Deutschland , Persönlichkeitspsychologie , Bildungsverhalten , Bildungsertrag , Lohn , Schätzung
Keywords (English): locus of control , wages , latent factor model , data set combination
Abstract: This paper establishes that individuals with an internal locus of control, i.e., who believe that reinforcement in life comes from their own actions instead of being determined by luck or destiny, earn higher wages. However, this positive effect only translates into labor income via the channel of education. Factor structure models are implemented on an augmented data set coming from two different samples. By so doing, we are able to correct for potential biases that arise due to reverse causality and spurious correlation, and to investigate the impact of premarket locus of control on later outcomes.
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