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Research ArticleArticles

An Economic Model of Locus of Control and the Human Capital Investment Decision

Margo Coleman and Thomas DeLeire
Journal of Human Resources, July 2003, XXXVIII (3) 701-721; DOI: https://doi.org/10.3368/jhr.XXXVIII.3.701
Margo Coleman
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Thomas DeLeire
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Abstract

We present an economic model of how teenagers’ outlooks—specifically their locus of control—affect their human capital investments. Locus of control measures the extent to which a person believes their actions affect their outcomes. The model allows locus of control to affect teenagers’ assessment of the return to education. The effect of eighth graders’ locus of control on high school completion and college attendance is examined using the National Educational Longitudinal Study. The results indicate that locus of control influences education decisions and suggests that locus of control operates through teenagers’ expectations of the returns to human capital investments.

  • Received October 2000.
  • Received March 2002.

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Journal of Human Resources
Vol. XXXVIII, Issue 3
1 Jul 2003
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An Economic Model of Locus of Control and the Human Capital Investment Decision
Margo Coleman, Thomas DeLeire
Journal of Human Resources Jul 2003, XXXVIII (3) 701-721; DOI: 10.3368/jhr.XXXVIII.3.701

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An Economic Model of Locus of Control and the Human Capital Investment Decision
Margo Coleman, Thomas DeLeire
Journal of Human Resources Jul 2003, XXXVIII (3) 701-721; DOI: 10.3368/jhr.XXXVIII.3.701
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