This study was prepared by Elke Lüdemann while she was working in the Department Human Capital and Innovation of the Ifo Institute. It was completed in July 2011 and accepted as a doctoral thesis by the Economics Department of the University of Munich (LMU). The subject of this study is a micro...

Individuals differ not only by gender and hair color, they also exhibit heterogeneities in various probably not fully genetically determined dimensions as personality, preferences and skills. Moreover, individuals live in different social environments and yield unequal life outcomes as health or...