“The Role of Noncognitive Ability on Health Status and Wealth Accumulation” - Warsaw Economic Seminars [15.06.2023]

We kindly invite you to take part in the next meeting within the Warsaw Economic Seminars series, organised jointly by the Faculty of Economic Sciences, University of Warsaw and the Warsaw School of Economics.

During the meeting the Faculty’s Guest - prof. Hwan-sik Choi (Binghamton University) will present the research conducted jointly with prof. Alan Adelman (Binghamton University).

The seminar will be held on June 15th 2023 2023 at 5 p.m. in hybrid mode: in room A201 at the Faculty of Economic Sciences (Długa 44/50) and via Zoom platform: https://uw-edu-pl.zoom.us/j/94952861067?pwd=eWFxK0N3SWJJdUNtZUQ4RDYxQ1loZz09

Meeting ID: 949 5286 1067

Passcode: 149259

Abstract:

We study the role of noncognitive ability, focusing on Conscientiousness, in wealth accumulation and its indirect effect through health status channel. Conscientiousness is associated with a 24 percent increase in total net wealth. The indirect effect through health status is 17 percent of the total effect of Conscientiousness. These results persist when we control for socioeconomic status, parental characteristics, and cognitive ability. We use novel instruments for health status using polygenic scores and obtain similar results to the OLS results: Conscientiousness plays an important role in wealth accumulation and a fundamental factor behind the health effect on wealth accumulation.