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dc.contributor.authorBrown, Sarahen_US
dc.contributor.authorTaylor, Karlen_US
dc.date.accessioned2012-04-24en_US
dc.date.accessioned2012-06-15T07:57:25Z-
dc.date.available2012-06-15T07:57:25Z-
dc.date.issued2011en_US
dc.identifier.piurn:nbn:de:101:1-201201104053-
dc.identifier.urihttp://hdl.handle.net/10419/58898-
dc.description.abstractWe explore the relationship between household finances and personality traits from an empirical perspective. Specifically, using individual level data drawn from the British Household Panel Survey, we analyse the influence of personality traits on financial decision-making at the individual level focusing on decisions regarding unsecured debt acquisition and financial assets. Personality traits are classified according to the 'Big Five' taxonomy: openness to experience, conscientiousness, extraversion, agreeableness and neuroticism. We find that certain personality traits such as extraversion and openness to experience exert relatively large influences on household finances in terms of the levels of debt and assets held. In contrast, personality traits such as conscientiousness and neuroticism appear to be unimportant in influencing levels of unsecured debt and financial asset holding. Our findings also suggest that personality traits have different effects across the various types of debt and assets held. For example, openness to experience does not appear to influence the probability of having national savings but is found to increase the probability of holding stocks and shares, a relatively risky financial asset.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion Paper series, Forschungsinstitut zur Zukunft der Arbeit 6191en_US
dc.subject.jelC24en_US
dc.subject.jelD03en_US
dc.subject.jelD14en_US
dc.subject.ddc330en_US
dc.subject.keywordBig Five personality traitsen_US
dc.subject.keywordfinancial assetsen_US
dc.subject.keywordunsecured debten_US
dc.subject.stwPrivate Finanzplanungen_US
dc.subject.stwAnlageverhaltenen_US
dc.subject.stwPersönlichkeitspsychologieen_US
dc.subject.stwSchätzungen_US
dc.subject.stwGroßbritannienen_US
dc.titleHousehold finances and the "Big Five" personality traitsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn697266109en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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