This paper examines the effect of teenagers' outlooks--specified as their locus of control--on educational attainment and labor market outcomes. I replicate the study of Coleman and DeLeire (2003) and test the predictions of their theoretical model using a different data set--National Longitudinal Survey of Youth (NLSY). The findings fail to…

The author attempts to demonstrate that human capital is more than just a capital good. Certain forms of human capital have consumption value in addition to the value of future monetary and nonmonetary benefits. A method for estimating the consumption value of schooling as a vehicle for avoiding the draft is presented. (Author/CH)

Human capital theory indicates that receipt of on-the-job training is positively related to expectations of future labor force participation. Young women may underestimate their future labor force attachment and therefore underinvest in on-the-job training. (JOW)