Aspects of learning style and labour market entry an explorative study

Since ‘soft factors’ gain more interest for their relevance for the labour market, this study explores the effect of learning style on labour market entry. Learning style is considered to be a relative stable educational concept representing an individual’s learning preferences. This study links the educational concept of learning style with labour market research. The sample has been composed of graduates in Economics of the Maastricht University who graduated in between 1991 and 1995. They all started their studies in 1986 or 1987, in which years their learning style data were collected. Learning style aspects were tested for their effect on job chances, quality of work and type of job (job match) at the time of the survey one and a half year after graduation. Analyses were applied within a two step model. In the first step only learning style data and control variables were included. In the second step, relevant covariates like study results were included in the analyses in addition to the learning style data. Logistic and normal lineair regression analyses point out that the motivational aspects of learning style tend to have an effect on most of the labour market indicators, whereas the cognitive information processing aspects merely affect the chance of getting an academic job. Results of multinomial logistic regression analyses reveal some effects on entering an accounting job in comparison with a managing job (job match). The learning style aspect ‘holism’ shows a limited, although unexpected positive effect in this respect. For globalism a negative effect on entering an accounting job appeared. Extendedness appeared to have a limited negative effect on entering an accounting job as well. For research jobs in comparison with managing jobs, no effects are found. Altogether, the effects of learning style aspects appear to be more profound than the effects of study results with respect to labour market entry. Implications and limitations of the study are discussed.labour market entry;

Personality Characteristics and Labour Market Entry an exploration

In an explorative study, the value of four personality constructs in predicting success in the labour market entry has been analysed with a sample of graduates in economics from Maastricht University. The research question is: do personality characteristics predict labour market entry success and how much weight do these ‘soft’ factors have compared to the traditional ‘hard’ human capital factors like study results? Two out of the four constructs, i.e. (internal) Locus of control and Type A behaviour appear to have a positive effect on labour market success. The effects are independent of the effects of study results and other traditional human capital variables. Locus of control affects getting a job soon after graduation and having tenure, whereas Type A behaviour affects having tenure and wages. Study results merely affect job quality indicators. For obtaining an academic job, the human capital factors have a positive effect while personality has no effect at all. The findings underline the relevance of further labour market research with respect to the importance and role of the so called ‘soft’ factors like personality characteristics. At the same time, the role of ‘hard’ human capital factors is not to be neglected. Both types of factors seem to have their own and independent effects. Future research directions are given and implications of the study are discussed.labour market entry;

Coordination of Expectations in Asset Pricing Experiments (Revised June 2003)

We investigate expectation formation in a controlled experimental environment. Subjects are asked to predict the price in a standard asset pricing model. They do not have knowledge of the underlying market equilibrium equations, but they know all past realized prices and their own predictions. Aggregate demand of the risky asset depends upon the forecasts of the participants. The realized price is then obtained from market equilibrium with feedback from individual expectations. Each market is populated by six subjects and a small fraction of fundamentalist traders. Realized prices differ significantly from fundamental values. In some groups the asset price converges slowly to the fundamental price, in other groups there are regular oscillations around the fundamental price. In all groups participants coordinate on a common prediction strategy. The individual prediction strategies can be estimated and correspond, for a large majority of participants, to simple linear autoregressive forecasting rules.

Seriation by constrained correspondence analysis: a simulation study

One of the many areas in which Correspondence Analysis (CA) is an effectivemethod, concerns ordination problems. For example, CA is a well-knowntechnique for the seriation of archaeological assemblages. A problem withthe CA seriation solution, however, is that only a relative ordering of theassemblages is obtained. To improve the usual CA solution, a constrained CAapproach that incorporates additional information in the form of equalityand inequality constraints concerning the time points of the assemblages maybe considered. Using such constraints, explicit dates can be assigned to theseriation solution. In this paper, we extend the set of constraints that canbe used in CA by introducing interval constraints. That is, constraints thatput the CA\\ solution within a specific time-frame. Moreover, we study thequality of the constrained CA solution in a simulation study. In particular,by means of the simulation study we are able to assess how well ordinary andconstrained CA can recover the true time order. Furthermore, for theconstrained approach, we see how well the true dates are retrieved. Thesimulation study is set up in such a way that it mimics the data of a seriesof ceramic assemblages consisting of the locally produced tableware fromSagalassos (SW Turkey). We find that the dating of the assemblages on thebasis of constraints appears to work quite well.

Coordination of Expectations in Asset Pricing Experiments (Version March 2004)

We investigate expectation formation in a controlled experimental environment. Subjects are asked to predict the price in a standard asset pricing model. They do not have knowledge of the underlying market equilibrium equations, but they know all past realized prices and their own predictions. Aggregate demand of the risky asset depends upon the forecasts of the participants. The realized price is then obtained from market equilibrium with feedback from individual expectations. Each market is populated by six subjects and a small fraction of fundamentalist traders. Realized prices differ significantly from fundamental values. In some groups the asset price converges slowly to the fundamental price, in other groups there are regular oscillations around the fundamental price. In all groups participants coordinate on a common prediction strategy. The individual prediction strategies can be estimated and correspond, for a large majority of participants, to simple linear autoregressive forecasting rules.