How relevant are economic preferences and personality traits for individual sustainable investment behavior? A framed field experiment

Gunnar Gutsche, Heike Wetzel and Andreas Ziegler

VfS Annual Conference 2020 (Virtual Conference): Gender Economics from Verein für Socialpolitik / German Economic Association

Abstract: This paper analyzes the determinants of socially responsible investing (SRI) at the individual investor level. We examine data from an incentivized framed field experiment, which was part of a survey among a representative sample of financial decision makers in German households. Thus, we provide a new approach to elicit preferences for SRI. We further extend the set of potential determinants of SRI and consider all economic preferences according to Falk et al. (2018) and the Big Five personality traits. The analysis reveals that these factors are only of minor relevance in comparison to financial literacy, environmental values, and social norms.

Keywords: Socially responsible investing; economic preferences; personality traits; framed field experiment (search for similar items in EconPapers)
JEL-codes: A12 A13 G02 G11 Q56 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-env, nep-exp and nep-fle
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc20:224542

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