Abstract
This study investigates whether non-cognitive skills as measured by Big 5 personality traits and behavioral characteristics as indicated by risk aversion rate, time discount rate, and (over) confidence explain the variation in schooling and labor market outcomes using the Japanese and US survey data. The obtained results indicate that non-cognitive skills influence the schooling, wages, and career promotion, even when controlling for a variety of behavioral characteristics in addition to economic variables. Interestingly, educational attainment and occupational success depend on different facets of Big 5 personality traits and the role of personality trait varies between countries and genders.
