scholarly journals Personality economics: An investigation of how personality develops and how it predicts decisions

2022 ◽  
Author(s):  
◽  
Thomas Dudek
Keyword(s):  
Locus Of Control ◽  
Personality Traits ◽  
Risk Tolerance ◽  
Risk Attitudes ◽  
Growing Up ◽  
Property Insurance ◽  
Decisions Under Risk ◽  
Insurance Decisions ◽  
Crucial Part

<p>This thesis is the product of three research papers, of which each one forms a paper of this thesis. In thefirst paper, I study how people’s personality evolves and whether it is shaped by family dynamics,specifically by the sex of one’s siblings. Researchers developed a good understanding of the importanceof personality for people’s lives but know very little how this personality is shaped. The first paperinvestigates whether growing up with a sister instead of a brother might be a cause of different personalitydevelopment. In the second paper, I study two specific personality traits, locus of control and risktolerance, as predictors of decisions under risk. Although we know risk is a crucial part of our lives, we stillhave not determined how to define and measure risk attitudes properly. The second paper delves deeperinto this topic and shows how risk tolerance and locus of control predict risky decisions in an experimentand in real-world choices and gives some additional insight into the measurement of risk attitudes. In thispaper I also studied other personality traits, which turned out to have no important role with regards todecisions under risk. In the third and last paper, I study property insurance decisions with data collectedin an experiment. I designed and coded the experiment and collected this data partially in a computer laband partially online. This project investigates what behavioral and financial factors influence propertyinsurance decisions, especially the choice to insure with fixed-price long-term contracts.</p>

scholarly journals Personality economics: An investigation of how personality develops and how it predicts decisions

2022 ◽  
Author(s):  
◽  
Thomas Dudek
Keyword(s):  
Locus Of Control ◽  
Personality Traits ◽  
Risk Tolerance ◽  
Risk Attitudes ◽  
Growing Up ◽  
Property Insurance ◽  
Decisions Under Risk ◽  
Insurance Decisions ◽  
Crucial Part

<p>This thesis is the product of three research papers, of which each one forms a paper of this thesis. In thefirst paper, I study how people’s personality evolves and whether it is shaped by family dynamics,specifically by the sex of one’s siblings. Researchers developed a good understanding of the importanceof personality for people’s lives but know very little how this personality is shaped. The first paperinvestigates whether growing up with a sister instead of a brother might be a cause of different personalitydevelopment. In the second paper, I study two specific personality traits, locus of control and risktolerance, as predictors of decisions under risk. Although we know risk is a crucial part of our lives, we stillhave not determined how to define and measure risk attitudes properly. The second paper delves deeperinto this topic and shows how risk tolerance and locus of control predict risky decisions in an experimentand in real-world choices and gives some additional insight into the measurement of risk attitudes. In thispaper I also studied other personality traits, which turned out to have no important role with regards todecisions under risk. In the third and last paper, I study property insurance decisions with data collectedin an experiment. I designed and coded the experiment and collected this data partially in a computer laband partially online. This project investigates what behavioral and financial factors influence propertyinsurance decisions, especially the choice to insure with fixed-price long-term contracts.</p>

scholarly journals MY BUSINESS AND I: ENTREPRENEUR PERSONALITY TRAITS AND CAPITAL STRUCTURE CHOICE

2020 ◽  
Vol 21 (6) ◽  
Author(s):  
KELMARA M. VIEIRA ◽  
VANESSA M. VALCANOVER ◽  
ANI C. G. POTRICH ◽  
EVERTON A. CAVALHEIRO
Keyword(s):  
Locus Of Control ◽  
Capital Structure ◽  
Personality Traits ◽  
Structural Equation ◽  
Risk Tolerance ◽  
Equation Modeling ◽  
Internal Locus ◽  
Internal Locus Of Control ◽  
The Government ◽  
The Capital Structure

ABSTRACT Purpose: This research seeks to identify how entrepreneurs’ personality traits can influence the capital structure of micro and small private businesses in Brazil, which are important for the economic growth and the subsistence of their owners. Originality/value: The study of the behavioral dimension of business decisions can help financial agents to better understand client behavior, including the adoption of mechanisms that identify possible risky or inefficient decisions made by managers based on their personality traits. It can also assist the government and institutions supporting micro and small private businesses in developing strategies to reduce the mortality of such companies. Design/methodology/approach: The proposed model involves 19 expected relationships that evaluate the relationships between the optimism, risk tolerance, sense of control (external and internal), attitude towards debt, and entrepreneur gender constructs. The sample includes 625 micro and small entrepreneurs in the state of Rio Grande do Sul, Brazil. Confirmatory factor analysis and structural equation modeling were performed. Findings: Results showed that attitude towards debt and gender were the most significant constructs and had a direct influence on the capital structure, while optimism and internal locus of control exerted a negative indirect influence, while risk tolerance had a positive indirect effect. Female managers demonstrated higher optimism and internal locus of control than male managers, but they had a worse attitude towards debt.

Do sensation seeking, control orientation, ambiguity, and dishonesty traits affect financial risk tolerance?

2015 ◽  
Vol 42 (1) ◽  
pp. 34-41 ◽  
Author(s):  
Alan Wong ◽  
Bernie Carducci
Keyword(s):  
Locus Of Control ◽  
Personality Traits ◽  
Sensation Seeking ◽  
Financial Risk ◽  
Risk Tolerance ◽  
Ambiguity Tolerance ◽  
Criterion Variable ◽  
Content Type ◽  
Financial Risk Tolerance ◽  
The Relationship

Purpose – The purpose of this paper is to determine relationships between financial risk tolerance and the personality traits of sensation-seeking, locus of control, ambiguity tolerance, and financial dishonesty. Design/methodology/approach – A pretested questionnaire was used to gather information from 255 respondents. With risk tolerance as a criterion variable and the four personality traits as predictor variables, a regression procedure was performed to determine which variables contributed to the variability of the criterion variable and the extent of such contribution. An analysis was also done to find out whether gender, age, GPA, and academic standing had an influence on each personality trait’s contribution to risk tolerance. Findings – Risk tolerance is directly related to sensation-seeking and the link is so strong that it is not mitigated by the effects of gender, age, GPA, and college academic standings. As for locus of control, the more one believes one has control over one’s outcome, the higher risk one can tolerate. Surprisingly, there is no relationship between risk and ambiguity tolerances. Dishonesty also does not affect risk tolerance behavior. However, the relationship is found to exist among younger individuals and those with lower GPA, possibly due to not having reached an adequate level of matured or critical reasoning yet. Originality/value – The relationship between risk tolerance and sensation-seeking is an established fact but whether the relationship still holds across several demographic groups is part of this study’s focus. Although much has been done on risk tolerance, very little has been done on its relationship to locus of control, ambiguity tolerance, and financial dishonesty.

scholarly journals Risk attitudes and personality traits of entrepreneurs and venture team members

2019 ◽  
Vol 116 (36) ◽  
pp. 17712-17716 ◽  
Author(s):  
Sari Pekkala Kerr ◽  
William R. Kerr ◽  
Margaret Dalton
Keyword(s):  
Locus Of Control ◽  
Personality Traits ◽  
Self Efficacy ◽  
Limited Attention ◽  
Risk Attitudes ◽  
Need For Achievement ◽  
Team Members ◽  
Internal Locus ◽  
Internal Locus Of Control ◽  
Working Together

Personality distinctions between entrepreneurs, nonfounder CEOs/leaders, and inventor employees have received limited attention, especially in innovative settings where they are working together. We surveyed these groups, along with other employees of innovative firms, at 4 locations of a prominent innovation and coworking center. Entrepreneurs display the greatest tolerance of risk, even in small gambles, as well as the strongest self-efficacy, internal locus of control, and need for achievement. Nonfounder CEOs/leaders typically sit in between entrepreneurs and employees for personality traits. Entrepreneurs, nonfounder CEOs/leaders, and inventor employees all show more innovative personalities than the noninventor employees in the same companies.

Locus of control and adjustment to long-term hemodialysis

1972 ◽  
Author(s):  
Dean G. Kilpatrick ◽  
William C. Miller ◽  
Arthur V. Williams
Keyword(s):  
Locus Of Control
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