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on Neuroeconomics |
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Issue of 2014‒12‒24
four papers chosen by |
| By: | Tim Kautz; James J. Heckman; Ron Diris; Bas ter Weel; Lex Borghans |
| Abstract: | This paper reviews the recent literature on measuring and boosting cognitive and noncognitive skills. The literature establishes that achievement tests do not adequately capture character skills|personality traits, goals, motivations, and preferences that are valued in the labor market, in school, and in many other domains. Their predictive power rivals that of cognitive skills. Reliable measures of character have been developed. All measures of character and cognition are measures of performance on some task. In order to reliably estimate skills from tasks, it is necessary to standardize for incentives, effort, and other skills when measuring any particular skill. Character is a skill, not a trait. At any age, character skills are stable across different tasks, but skills can change over the life cycle. Character is shaped by families, schools, and social environments. Skill development is a dynamic process, in which the early years lay the foundation for successful investment in later years. High-quality early childhood and elementary school programs improve character skills in a lasting and cost-effective way. Many of them beneficially affect later-life outcomes without improving cognition. There are fewer long-term evaluations of adolescent interventions, but workplace-based programs that teach character skills are promising. The common feature of successful interventions across all stages of the life cycle through adulthood is that they promote attachment and provide a secure base for exploration and learning for the child. Successful interventions emulate the mentoring environments offered by successful families. |
| JEL: | D01 I20 J24 |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:20749&r=neu |
| By: | Alessandro Bucciol (Department of Economics (University of Verona)); Barbara Cavasso (University of Padua); Luca Zarri (Department of Economics (University of Verona)) |
| Abstract: | In this study we provide direct evidence on the relationship between social status and personality traits. Using survey data from the 2006-2012 waves of the HRS, we show that individuals’ self-perceived social status is associated with all the “Big Five” personality traits, after controlling for observable characteristics that arguably reflect one’s actual status. We also construct an objective status measure that in turn is influenced by personality traits. Objectively measured status is positively but not highly correlated with its subjective counterpart and, when incorporated in a regression specification, still leaves room for direct effects of personality traits on status perception. |
| Keywords: | Subjective Social Status, Objectively Measured Social Status, Personality Traits |
| JEL: | D03 I31 Z13 |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:ver:wpaper:21/2014&r=neu |
| By: | Deborah Cobb-Clark (Melbourne Institute of Applied Economic and Social Research, The University of Melbourne; Institute for the Study of Labor (IZA); and ARC Centre of Excellence for Children and Families over the Life Course) |
| Abstract: | This paper reviews the role of locus of control in the labor market. I begin with a discussion of the conceptual origins of locus of control, including its relationship to related concepts such as self-efficacy, motivation, and self-control. The relationship between locus of control and labor market success is then summarized. In doing so, I pay careful attention to what we know about three potential mechanisms – human capital investments, hiring decisions, and optimal incentive contracts – through which locus of control might operate. Finally, the broader implications of these relationships for public policy and future research are discussed. |
| Keywords: | Locus of control, labor markets, non-cognitive skills, behavioral labor economics |
| JEL: | J01 J08 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:iae:iaewps:wp2014n25&r=neu |
| By: | Marigen Narea |
| Abstract: | Worldwide, non-maternal child care during the first years of life has gradually become more prevalent. However, there is little evidence for Chile about the benefit of early attendance at centre-based care—especially universal early childhood programs for under-three-year-olds—and child development. This study explores the association between two-year-olds' attendance at day care and child development. Attendance at day care (versus maternal care) between the ages of 24 and 36 months is positively associated with child cognitive development and shows insignificant association with child socio-emotional development. In addition, more daily hours in centre-based care is positively associated with cognitive outcomes, but negatively associated with socio-emotional outcomes. Additionally, the association between attendance at centre-based care and socio-emotional outcomes is more negative for children of lower income households relative to children of higher income households. The analyses use a Chilean panel survey and control for child, maternal, and family characteristics as well as for unobserved individual fixed effects. The results are consistent using both OLS regressions and propensity score matching techniques. Implications for future research and social policies are discussed. |
| Keywords: | Early childhood, Centre-based care, Child care, Child development |
| JEL: | J13 J18 I21 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:cep:sticas:/183&r=neu |