Using a representative sample of the German adult population, this paper investigates the extent to which a survey measure of present bias predicts present-biased choice behavior in incentive-compatible experiments and real-world outcomes related to in-vestments in financial assets and human...

This paper establishes that individuals with an internal locus of control, i.e., who believe that reinforcement in life comes from their own actions instead of being determined by luck or destiny, earn higher wages. However, this positive effect only translates into labor income via the channel...