Details
| Original language | English |
|---|---|
| Pages (from-to) | 189-214 |
| Number of pages | 26 |
| Journal | Research in Economics |
| Volume | 67 |
| Issue number | 2 |
| Publication status | Published - 6 Apr 2013 |
Abstract
There is an increasing economic literature considering personality traits as a source of individual differences in labor market productivity and other outcomes. This paper provides an overview on the role of these skills with a particular focus on measurement and estimation. Based on the relevant literature from different disciplines, common psychometric measures used to assess personality are discussed and critical assumptions for their applications are highlighted. Moreover, we report and describe ideas of recent research that aims at incorporating personality traits into economic models of decision making. Based on these foundations, the main results of the empirical literature regarding noncognitive skills are summarized. Finally, we provide a brief guide to econometric analysis with consideration of common econometric pitfalls that evolve in empirical analysis of personality traits and review possible solutions.
Keywords
- Human capital formation, Noncognitive skills, Personality, Psychometric measures
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
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In: Research in Economics, Vol. 67, No. 2, 06.04.2013, p. 189-214.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Noncognitive skills in economics
T2 - Models, measurement, and empirical evidence
AU - Thiel, Hendrik
AU - Thomsen, Stephan L.
N1 - Funding information: We thank Katja Coneus, Friedhelm Pfeiffer and the participants of the University of Magdeburg Mentoring Seminar 2009, Potsdam, for valuable comments. Financial support from the Stifterverband für die Deutsche Wissenschaft (Claussen-Simon-Stiftung) is gratefully acknowledged. The usual disclaimer applies.
PY - 2013/4/6
Y1 - 2013/4/6
N2 - There is an increasing economic literature considering personality traits as a source of individual differences in labor market productivity and other outcomes. This paper provides an overview on the role of these skills with a particular focus on measurement and estimation. Based on the relevant literature from different disciplines, common psychometric measures used to assess personality are discussed and critical assumptions for their applications are highlighted. Moreover, we report and describe ideas of recent research that aims at incorporating personality traits into economic models of decision making. Based on these foundations, the main results of the empirical literature regarding noncognitive skills are summarized. Finally, we provide a brief guide to econometric analysis with consideration of common econometric pitfalls that evolve in empirical analysis of personality traits and review possible solutions.
AB - There is an increasing economic literature considering personality traits as a source of individual differences in labor market productivity and other outcomes. This paper provides an overview on the role of these skills with a particular focus on measurement and estimation. Based on the relevant literature from different disciplines, common psychometric measures used to assess personality are discussed and critical assumptions for their applications are highlighted. Moreover, we report and describe ideas of recent research that aims at incorporating personality traits into economic models of decision making. Based on these foundations, the main results of the empirical literature regarding noncognitive skills are summarized. Finally, we provide a brief guide to econometric analysis with consideration of common econometric pitfalls that evolve in empirical analysis of personality traits and review possible solutions.
KW - Human capital formation
KW - Noncognitive skills
KW - Personality
KW - Psychometric measures
UR - http://www.scopus.com/inward/record.url?scp=84878504032&partnerID=8YFLogxK
U2 - 10.1016/j.rie.2013.03.002
DO - 10.1016/j.rie.2013.03.002
M3 - Article
AN - SCOPUS:84878504032
VL - 67
SP - 189
EP - 214
JO - Research in Economics
JF - Research in Economics
SN - 1090-9443
IS - 2
ER -