Incentive-Enhancing Preferences: Personality, Behavior, and Earnings by Samuel Bowles, Herbert Gintis and Melissa Osborne. Published in volume 91, issue 2, pages 155-158 of American Economic Review, May 2001

We survey the determinants of earnings and propose a framework for understanding labor market success. We suggest that the advantages of the children of successful parents go considerably beyond the benefits of superior education, the inheritance of wealth, or the genetic inheritance of cognitive ability. We suggest that noncognitive personality variables, such as attitudes towards risk, ability to adapt to new economic conditions, hard work, and the rate of time preference affect both earning and the transmission of economic status across generations.