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We model migration across domestic labor markets (internal migration) as the outcome of a job search process in which job seekers form subjective beliefs about the return search effort that are related to their locus of control. Job seekers with an internal locus of control are predicted to search across larger geographic areas and migrate more frequently as a result. We empirically test the relationship between locus of control and the propensity to migrate using data from the German Socio-Economic Panel (SOEP). We find that not only do individuals with an internal locus of control express more willingness to migrate, they do in fact also migrate more often.
Based on a large, representative German household panel, we investigate to what extent the personality of individuals influences the entry decision into and the exit decision from self-employment. We reveal that some traits, such as openness to experience, extraversion, and risk tolerance affect entry, but different ones, such as agreeableness or different parameter values of risk tolerance, affect exit from self-employment. Only locus of control has a similar influence on the entry and exit decisions. The explanatory power of all observed traits among all observable variables amounts to 30 %, with risk tolerance, locus of control, and openness having the highest explanatory power.