Maintaining (locus of) control? : Assessing the impact of locus of control on education decisions and wages

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 of education. Factor structure models are implemented on an augmented data set coming from two different samples. By so doing, we are able to correct for potential biases that arise due to reverse causality and spurious correlation, and to investigate the impact of premarket locus of control on later outcomes

Wages in high-tech start-ups - do academic spin-offs pay a wage premium?

Due to their origin from universities, academic spin‐offs operate at the forefront of the technological development. Therefore, spin‐offs exhibit a skill‐biased labour demand, i.e. spin‐offs have a high demand for employees with cutting edge knowledge and technical skills. In order to accommodate this demand, spin‐offs may have to pay a relative wage premium compared to other high‐tech start‐ups. However, neither a comprehensive theoretical assessment nor the empirical literature on wages in start‐ups unambiguously predicts the existence and the direction of wage differentials between spin‐offs and non‐spin‐offs. This paper addresses this research gap and examines empirically whether or not spin‐offs pay their employees a wage premium. Using a unique linked employer‐employee data set of German high‐tech start‐ups, we estimate Mincer‐type wage regressions applying the Hausman‐Taylor panel estimator. Our results show that spin‐offs do not pay a wage premium in general. However, a notable exception from this general result is that spin‐offs that commercialise new scientific results or methods provide higher wages to employees with linkages to the university sector – either as university graduates or as student workers

DOE Project on Heavy Vehicle Aerodynamic Drag FY 2005 Annual Report

Class 8 tractor-trailers consume 11-12% of the total US petroleum use. At high way speeds, 65% of the energy expenditure for a Class 8 truck is in overcoming aerodynamic drag. The project objective is to improve fuel economy of Class 8 tractor-trailers by providing guidance on methods of reducing drag by at least 25%. A 25% reduction in drag would present a 12% improvement in fuel economy at highway speeds, equivalent to about 130 midsize tanker ships per year. Specific goals include: (1) Provide guidance to industry in the reduction of aerodynamic drag of heavy truck vehicles; and (2) Establish a database of experimental, computational, and conceptual design information, and demonstrate the potential of new drag-reduction devices