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Homo oeconomicus with a personality – trait-based differences in decision making


Dreu, Carsten; Gross, Jörg (2019). Homo oeconomicus with a personality – trait-based differences in decision making. In: Schram, Arthur; Ule, Aljaž. Handbook of Research Methods and Applications in Experimental Economics. Cheltenham: Edward Elgar Publishing, 214-232.

Abstract

This chapter integrates personality psychology with the empirical investigation of economic preferences and choice. We begin with a classic question in psychology: when and how can we identify behavior as emanating from stable personality differences, from situational pressures, or some combination? Next, we review the psychometric methods used in personality psychology, with an emphasis on personality variables captured in the Big Five theory of personality and the biobehavioral approach/avoidance system that have been robustly shown to systematically influence economic decision making. We finally examine how the methodology of personality psychology can be applied in the realm of economic preferences and its measurement.

Abstract

This chapter integrates personality psychology with the empirical investigation of economic preferences and choice. We begin with a classic question in psychology: when and how can we identify behavior as emanating from stable personality differences, from situational pressures, or some combination? Next, we review the psychometric methods used in personality psychology, with an emphasis on personality variables captured in the Big Five theory of personality and the biobehavioral approach/avoidance system that have been robustly shown to systematically influence economic decision making. We finally examine how the methodology of personality psychology can be applied in the realm of economic preferences and its measurement.

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Additional indexing

Other titles:Chapter 11: Homo oeconomicus with a personality – trait-based differences in decision making
Item Type:Book Section, refereed, further contribution
Communities & Collections:06 Faculty of Arts > Institute of Psychology
Dewey Decimal Classification:150 Psychology
Scopus Subject Areas:Social Sciences & Humanities > General Economics, Econometrics and Finance
Social Sciences & Humanities > General Business, Management and Accounting
Language:English
Date:2019
Deposited On:15 Nov 2022 15:11
Last Modified:24 Mar 2024 04:50
Publisher:Edward Elgar Publishing
ISBN:9781788110556
OA Status:Closed
Publisher DOI:https://doi.org/10.4337/9781788110563
Other Identification Number:eISBN:9781788110563
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