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Rich men’s hobby or question of personality: Who considers collectibles as alternative investment?

Jens Kleine, Thomas Peschke and Niklas Wagner ()

Finance Research Letters, 2020, vol. 35, issue C

Abstract: Collecting is an inherent economic behavior that is neither characterized as pure consumption nor investment activity, while subject to various psychological aspects. Based on a unique sample survey of collectors and non-collectors, we study the Big Five personality traits of collectors who consider their activity as linked to valid investment motives. In our sample, investor collectors are to about 70% male and exhibit further demographics including above-average education, income and available assets. Controlling for gender and income, we find that low Agreeableness and high Openness significantly characterize investor collectors, who are self-reliant and open to new investment experience.

Keywords: Collectibles; Alternative investments; Personality traits; Big Five model; Agreeableness; Openness (search for similar items in EconPapers)
JEL-codes: D12 G41 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:35:y:2020:i:c:s1544612319309857

DOI: 10.1016/j.frl.2019.101307

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