Big cities may offer the best jobs, the most compelling experiences, and the most exciting opportunities. But there is a cost: With higher housing and living costs, cities are only affordable by those able to secure the best jobs and the highest salaries. Economists would thus expect a strong self-selection for migration to cities based on ability—only the most able, the argument goes, should choose to live in a big city, because they are the ones with the best chances to earn the money needed to enjoy city life. In reality, however, such a stark self-selection is not observable in the data.
Gianmarco Ottaviano, professor of economics and Achille and Giulia Boroli Chair in European Studies at Bocconi, in a paper with Jorge De la Roca and Diego Puga , argues that self-confidence, and not necessarily ability, is the main driver of location decisions for. As in a self-fulfilling prophecy, those who choose to live in a big city have more valuable learning experiences that often allow them to aspire to the best jobs and to remain in a big city.
The authors exploit the possibility to follow through life 6,111 Americans who were administered both the
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