Economic and Psycology

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Borghans, Lex; Duckworth, Angela Lee; Heckman, James Joseph; ter Weel, Bas Working Paper

The economics and psychology of personality traits

IZA Discussion Papers, No. 3333 Provided in Cooperation with: Institute for the Study of Labor (IZA)

Suggested Citation: Borghans, Lex; Duckworth, Angela Lee; Heckman, James Joseph; ter Weel, Bas (2008) : The economics and psychology of personality traits, IZA Discussion Papers, No. 3333

This Version is available at: http://hdl.handle.net/10419/34948

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DISCUSSION PAPER SERIES

IZA DP No. 3333

The Economics and Psychology of Personality Traits
Lex Borghans Angela Lee Duckworth James J. Heckman Bas ter Weel February 2008

Forschungsinstitut zur Zukunft der Arbeit Institute for the Study of Labor

The Economics and Psychology of Personality Traits
Lex Borghans
ROA, Maastricht University and IZA

Angela Lee Duckworth
University of Pennsylvania

James J. Heckman
University of Chicago, American Bar Foundation, University College Dublin and IZA

Bas ter Weel
CPB Netherlands Bureau for Economic Policy Analysis, UNU-MERIT, Maastricht University and IZA

Discussion Paper No. 3333 February 2008

IZA P.O. Box 7240 53072 Bonn Germany Phone: +49-228-3894-0 Fax: +49-228-3894-180 E-mail: iza@iza.org

Any opinions expressed here are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but the institute itself takes no institutional policy positions. The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post World Net. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author.

IZA Discussion Paper No. 3333 February 2008

ABSTRACT The Economics and Psychology of Personality Traits* This paper explores the interface between personality psychology and economics. We examine the predictive power of personality and the stability of personality traits over the life cycle. We develop simple analytical frameworks for interpreting the evidence in personality psychology and suggest promising avenues for future research....
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