New Economics Papers
on Neuroeconomics
Issue of 2011‒09‒22
two papers chosen by

  1. The Stability of Big-Five Personality Traits By Deborah Cobb-Clark; Stefanie Schurer
  2. The FDA and ABCs: The Unintended Consequences of Antidepressant Warnings on Human Capital By Susan Busch; Ezra Golberstein; Ellen Meara

  1. By: Deborah Cobb-Clark (Melbourne Institute of Applied Economic and Social Research, The University of Melbourne; and Institute for the Study of Labor (IZA)); Stefanie Schurer (School of Economics and Finance, Victoria University of Wellington)
    Abstract: We use a large, nationally-representative sample of working-age adults to demonstrate that personality (as measured by the Big Five) is stable over a four-year period. Average personality changes are small and do not vary substantially across age groups. Intra-individual personality change is generally unrelated to experiencing adverse life events and is unlikely to be economically meaningful. Like other non-cognitive traits, personality can be modeled as a stable input into many economic decisions.
    Keywords: Non-cognitive skills, Big-Five personality traits, stability
    JEL: J24
    Date: 2011–08
  2. By: Susan Busch; Ezra Golberstein; Ellen Meara
    Abstract: Using annual cross-sectional data on over 100,000 adolescents aged 12-17, we studied academic and behavioral outcomes among those who were and were not likely affected by FDA warnings regarding the safety of antidepressants. Just before the FDA warnings, adolescents with probable depression had grade point averages 0.14 points higher than adolescents with depression just after the warnings. The FDA warnings also coincided with increased delinquency, use of tobacco and illicit drugs. Together, our results stress the importance of mental health and its treatment as an input into cognitive and non-cognitive aspects of human capital.
    JEL: I12 J18 J24
    Date: 2011–09

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