TY  - JOUR
AU  - Kaniel,Ron
AU  - Massey,Cade
AU  - Robinson,David T.
TI  - The Importance of Being an Optimist: Evidence from Labor Markets
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 16328
PY  - 2010
Y2  - September 2010
UR  - http://www.nber.org/papers/w16328
L1  - http://www.nber.org/papers/w16328.pdf
N1  - Author contact info:
Ron Kaniel
University of Rochester
Simon School of Business
500 Wilson BLVD
Carol Simon Hall
Box 270100 (Room CS3-312)
Tel: 585-275-1836
E-Mail: ron.kaniel@simon.rochester.edu

Cade Massey
Wharton School of Business
University of Pennsylvania
3730 Walnut St. #554 
Philadelphia, PA 19104
       
Tel: 215-746-5884
E-Mail: cadem@wharton.upenn.edu

David T. Robinson
Fuqua School of Business
Duke University
100 Fuqua Drive
Durham, NC 27708
Tel: 919/660-8023
Fax: 919/684-2818
E-Mail: davidr@duke.edu
AB  - Dispositional optimism is a personality trait associated with individuals who believe, either rightly or wrongly, that in general good things tend to happen to them more often than bad things. Using a novel longitudinal data set that tracks the job search performance of MBA students, we show that dispositional optimists experience significantly better job search outcomes than pessimists with similar skills. During the job search process, they spend less effort searching and are offered jobs more quickly. They are choosier and are more likely to be promoted than others. Although we find optimists are more charismatic and are perceived by others to be more likely to succeed, these factors alone do not explain away the findings. Most of the effect of optimism on economic outcomes stems from the part that is not readily observed by one's peers.
ER  -