1 / 8

Personality, Economic Behavior, and Aging

Personality, Economic Behavior, and Aging. Brent W. Roberts University of Illinois, Urbana- Champaign. APS Workshop on Opportunities for Advancing Behavioral and Social Research on Aging, Chicago, IL 5/22/08. Personality, Economic Behavior, and Aging.

alvin-grimes
Download Presentation

Personality, Economic Behavior, and Aging

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Personality, Economic Behavior, and Aging Brent W. Roberts University of Illinois, Urbana-Champaign APS Workshop on Opportunities for Advancing Behavioral and Social Research on Aging, Chicago, IL 5/22/08

  2. Personality, Economic Behavior, and Aging • “Despite the divergent worldviews of contemporary psychologists and economists, the two disciplines are essentially siblings separated at birth.” Loewenstein et al (2008)

  3. Recent Convergence of Personality Psychology and Economics • “Non-cognitive” skills strongly predict schooling decisions, school performance, & wages (Heckman et al., 2006). • Personality traits predict wages (Nyhus & Pons, 2005). • Neuroticism and Extraversion predict saving less money (Nyhus & Webley, 2001).

  4. Personality Traits Predict • Mortality, Divorce, & Occupational Attainment as well or better than IQ and SES (Roberts et al., 2007). • Conscientiousness is negatively associated with tax evasion behavior (Meints & Roberts, 2008).

  5. Personality traits • Also predict economic behaviors that might explain relations to larger issues such as wages and occupational attainment.

  6. Personality Traits and Economic Behaviors • Agreeableness predicts higher sharing in dictator games (Ben-Ner, Kong, & Putterman, 2004; Knafo et al, 2007). • Tough-Mindedness and Independence predict demanding more and Neuroticism rejecting more offers in ultimatum bargaining decisions (Brandstatter & Konigstein, 2001).

  7. Personality Traits and Economic Behaviors • Impulsivity and Sensation Seeking predict risk taking (Zaleskiewicz, 2001). • Self-Control predicts delay discounting behavior independent of IQ and SES (de Wit et al., 2007).

  8. Age, Personality, and Economic Behavior • Different personality traits may predict at different ages (Nyhus & Pons, 2005). • Different economic behaviors have important age associations: • Retirement savings • Risk taking • Intertemporal choice • Personality changes with age (Roberts et al., 2006). • Confluence of age changes in personality and economic behavior. • Economic behaviors and personality may be reciprocally related over time.

More Related