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Economic Preferences and Personality Traits Among Finance Professionals and the General Population : Characteristics of Finance Professionals

Holmén, Martin ; Holzmeister, Felix ; Kirchler, Michael ; Stefan, Matthias and Wengström, Erik LU (2023) In Economic Journal 133(656). p.2949-2977
Abstract
Based on artefactual field experiments, we investigate whether finance professionals differ from a sample of the working population in terms of industry-relevant preferences and personality traits. When adjusting for socioeconomic characteristics, we find only few and less marked differences: finance professionals are less risk averse, less trustworthy, show higher levels of psychopathy and are more competitive than participants from the general population. In an additional survey, experts with hiring experience consider industry selection, self-selection and imprinting by industry norms as explanatory for the observed subject pool differences.
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author
; ; ; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
C93 - Field Experiments, G11 - Portfolio Choice, Investment Decisions, G41 - Role and Effects of Psychological
in
Economic Journal
volume
133
issue
656
pages
29 pages
publisher
Wiley-Blackwell
external identifiers
  • scopus:85176867922
ISSN
1468-0297
DOI
10.1093/ej/uead038
language
English
LU publication?
yes
id
c9245a32-09a8-4ca5-b9e4-1a8232dac2ec
date added to LUP
2023-05-31 14:55:34
date last changed
2024-04-14 04:02:18
@article{c9245a32-09a8-4ca5-b9e4-1a8232dac2ec,
  abstract     = {{Based on artefactual field experiments, we investigate whether finance professionals differ from a sample of the working population in terms of industry-relevant preferences and personality traits. When adjusting for socioeconomic characteristics, we find only few and less marked differences: finance professionals are less risk averse, less trustworthy, show higher levels of psychopathy and are more competitive than participants from the general population. In an additional survey, experts with hiring experience consider industry selection, self-selection and imprinting by industry norms as explanatory for the observed subject pool differences.}},
  author       = {{Holmén, Martin and Holzmeister, Felix and Kirchler, Michael and Stefan, Matthias and Wengström, Erik}},
  issn         = {{1468-0297}},
  keywords     = {{C93 - Field Experiments; G11 - Portfolio Choice; Investment Decisions; G41 - Role and Effects of Psychological}},
  language     = {{eng}},
  month        = {{07}},
  number       = {{656}},
  pages        = {{2949--2977}},
  publisher    = {{Wiley-Blackwell}},
  series       = {{Economic Journal}},
  title        = {{Economic Preferences and Personality Traits Among Finance Professionals and the General Population : Characteristics of Finance Professionals}},
  url          = {{http://dx.doi.org/10.1093/ej/uead038}},
  doi          = {{10.1093/ej/uead038}},
  volume       = {{133}},
  year         = {{2023}},
}