Template-type: ReDif-Paper 1.0
Author-Name: Becker Anke 
Author-Name: Deckers Thomas 
Author-Name: Dohmen Thomas 
Author-Name: Falk Armin 
Author-Name: Kosse Fabian 
Author-workplace-name: ROA rm
Title: The relationship between economic preferences and psychological personality measures
Abstract: Although both economists and psychologists seek to identify determinants ofheterogeneity in behavior, they use different concepts to capture them. In this reviewwe first analyze the extent to which economic preferences and psychological conceptsof personality - such as the Big Five and locus of control - are related. We analyze datafrom incentivized laboratory experiments and representative samples and find onlylow degrees of association between economic preferences and personality. We thenregress life outcomes - such as labor market success, health status and life satisfaction- simultaneously on preference and personality measures. The analysis reveals that thetwo concepts are rather complementary when it comes to explaining heterogeneity inimportant life outcomes and behavior.
Keywords: labour economics ; 
Series: Research Memoranda
Creation-Date: 2012
Number: 012
File-URL: http://digitalarchive.maastrichtuniversity.nl/fedora/objects/guid:e21cf089-b242-43ee-b28d-7c629ac53d18/datastreams/ASSET1/content
File-Format: application/pdf
File-Size: 578075
Handle: RePEc:unm:umaror:2012012