Risk Preferences, Cognitive Ability and Personality
Risk Preferences, Cognitive Ability and Personality

Author: Yue Bao

Publisher: LAP Lambert Academic Publishing

Published: 2013

Total Pages: 180

ISBN-13: 9783659486890

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Risk aversion is the reluctance of a subject who value a certain gain higher than a risky gain, when both have the same expected value, and loss aversion refers to the tendency for a subject dislike a loss more than they favor a gain of the same expected value. This book investigates whether Danes are in general risk and loss averse, and test whether risk and loss aversion are related to cognitive ability, certain personality traits, and some demographics. Key findings: 1) Risk and loss aversion is a realistic characterization of average subjects; 2) The likelihood of being risk averse is affected negatively by background variables such as high salary, high education, and high cognitive reflection ability. However, IQ scores are not significantly related to risk aversion; 3) The possibility of displaying a high degree of risk aversion increases with age; 4) The possibility of being loss averse decreases with increase in salary and age, and it seems no cognitive ability measure is correlated to loss aversion.

Personality and Cognition in Economic Decision Making
Personality and Cognition in Economic Decision Making

Author: Aurora García-Gallego

Publisher: Frontiers Media SA

Published: 2017-08-22

Total Pages: 234

ISBN-13: 2889452360

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Psychologists studying cognitive processes and personality have increasingly benefited from the wealth of theory, methodology, and decision making paradigms used in economics and game theory. Similarly, for the economists, personality traits and basic cognitive processes offer a set of coherent explanatory constructs in economic behavior. Given the debate on preference invariance and behavioral consistency across contexts and domains, the papers in this topic shed light on the existence and effect of stable sets of idiosyncratic features on economic decision-making. While the effects of personality and cognition on economic decisions remain under-explored, the papers contributed in this topic offer more than a stimulus for further research. The general message could be that personality and cognitive processes offer the stable idiosyncratic ground on which individual decisions are made.

Behavioural Economics and Finance
Behavioural Economics and Finance

Author: Michelle Baddeley

Publisher: Routledge

Published: 2013-05-07

Total Pages: 330

ISBN-13: 1136250093

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Standard models in economics and finance usually assume that people are rational, self-interested maximisers, effectively co-ordinated via the invisible hand of the price mechanism. Whilst these approaches produce tractable, simple models, they cannot fully capture the uncertainties and instabilities that affect everyday choices in today’s complex world. Insights from the other social and behavioural sciences can help to fill the gap and behavioural economics is the subject which brings economics and finance together with psychology, neuroscience and sociology. Behavioural Economics and Finance introduces the reader to some of the key concepts and insights from this rich, inter-disciplinary approach to real-world decision-making.

Risk Preferences of Children and Adolescents in Relation to Gender, Cognitive Skills, Soft Skills, and Executive Functions
Risk Preferences of Children and Adolescents in Relation to Gender, Cognitive Skills, Soft Skills, and Executive Functions

Author: James Andreoni

Publisher:

Published: 2019

Total Pages: 29

ISBN-13:

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We conduct experiments eliciting risk preferences with over 1,400 children and adolescents aged 3-15 years old. We complement our data with an assessment of cognitive and executive function skills. First, we find that adolescent girls display significantly greater risk aversion than adolescent boys. This pattern is not observed among young children, suggesting that the gender gap in risk preferences emerges in early adolescence. Second, we find that at all ages in our study, cognitive skills (specifically math ability) are positively associated with risk taking. Executive functions among children, and soft skills among adolescents, are negatively associated with risk taking. Third, we find that greater risk-tolerance is associated with higher likelihood of disciplinary referrals, which provides evidence that our task is equipped to measure a relevant behavioral outcome. For academics, our research provides a deeper understanding of the developmental origins of risk preferences and highlights the important role of cognitive and executive function skills to better understand the association between risk preferences and cognitive abilities over the studied age range.

Handbook of the Economics of Finance
Handbook of the Economics of Finance

Author: George M. Constantinides

Publisher: Newnes

Published: 2013-02-08

Total Pages: 873

ISBN-13: 0444594736

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The 12 articles in this second of two parts condense recent advances on investment vehicles, performance measurement and evaluation, and risk management into a coherent springboard for future research. Written by world leaders in asset pricing research, they present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek authoritative perspectives and important details, this volume shows how the boundaries of asset pricing have expanded and at the same time have grown sharper and more inclusive. Offers analyses by top scholars of recent asset pricing scholarship Explains how the 2008 financial crises affected theoretical and empirical research Covers core and newly developing fields

Handbook of Personality, Fourth Edition
Handbook of Personality, Fourth Edition

Author: Oliver P. John

Publisher: Guilford Publications

Published: 2021-02-19

Total Pages: 962

ISBN-13: 1462544959

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Now in a revised and expanded fourth edition, this definitive reference and text has more than 50% new material, reflecting a decade of theoretical and empirical advances. Prominent researchers describe major theories and review cutting-edge findings. The volume explores how personality emerges from and interacts with biological, developmental, cognitive, affective, and social processes, and the implications for well-being and health. Innovative research programs and methods are presented throughout. The concluding section showcases emerging issues and new directions in the field. New to This Edition *Expanded coverage of personality development, with chapters on the overall life course, middle childhood, adolescence, and early adulthood. *Three new chapters on affective processes, plus chapters on neurobiology, achievement motivation, cognitive approaches, narcissism, and other new topics. *Section on cutting-edge issues: personality interventions, personality manifestations in everyday life, geographical variation in personality, self-knowledge, and the links between personality and economics. *Added breadth and accessibility--42 more concise chapters, compared to 32 in the prior edition.

Handbook of Experimental Finance
Handbook of Experimental Finance

Author: Füllbrunn, Sascha

Publisher: Edward Elgar Publishing

Published: 2022-10-13

Total Pages: 451

ISBN-13: 1800372337

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With an in-depth overview of the past, present and future of the field, The Handbook of Experimental Finance provides a comprehensive analysis of the current topics, methodologies, findings, and breakthroughs in research conducted with the help of experimental finance methodology. Leading experts suggest innovative ways of designing, implementing, analyzing, and interpreting finance experiments.

The Wiley Handbook of Cognition and Assessment
The Wiley Handbook of Cognition and Assessment

Author: Andre A. Rupp

Publisher: John Wiley & Sons

Published: 2016-11-14

Total Pages: 645

ISBN-13: 1118956575

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This state-of-the-art resource brings together the most innovative scholars and thinkers in the field of testing to capture the changing conceptual, methodological, and applied landscape of cognitively-grounded educational assessments. Offers a methodologically-rigorous review of cognitive and learning sciences models for testing purposes, as well as the latest statistical and technological know-how for designing, scoring, and interpreting results Written by an international team of contributors at the cutting-edge of cognitive psychology and educational measurement under the editorship of a research director at the Educational Testing Service and an esteemed professor of educational psychology at the University of Alberta as well as supported by an expert advisory board Covers conceptual frameworks, modern methodologies, and applied topics, in a style and at a level of technical detail that will appeal to a wide range of readers from both applied and scientific backgrounds Considers emerging topics in cognitively-grounded assessment, including applications of emerging socio-cognitive models, cognitive models for human and automated scoring, and various innovative virtual performance assessments

Are Economists' Preferences Psychologists' Personality Traits?
Are Economists' Preferences Psychologists' Personality Traits?

Author: Tomáš Jagelka

Publisher:

Published: 2020

Total Pages:

ISBN-13:

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This paper proposes a method for empirically mapping psychological personality traits to economic preferences. Careful modelling of random components of decision making is crucial to establishing the long supposed but empirically elusive link between economic and psychological systems for understanding differences in individuals' behavior. I use factor analysis to extract information on individuals' cognitive ability and personality and embed it within a Random Preference Model to estimate distributions of risk and time preferences, of their individual-level stability, and of people's propensity to make mistakes. I explain up to 50% of the variation in both average risk and time preferences and in individuals' capacity to make consistent rational choices using four factors related to cognitive ability and three of the Big Five personality traits. True differences in desired outcomes are related to differences in personality whereas actual mistakes in decisions are related to cognitive skill.