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Personality Psychology and Economics

Mathilde Almlund, Angela Lee Duckworth, James Heckman and Tim Kautz

Chapter Chapter 1 in Handbook of the Economics of Education, 2011, vol. 4, pp 1-181 from Elsevier

Abstract: This chapter explores the power of personality traits both as predictors and as causes of academic and economic success, health, and criminal activity. Measured personality is interpreted as a construct derived from an economic model of preferences, constraints, and information. Evidence is reviewed about the “situational specificity†of personality traits and preferences. An extreme version of the situationist view claims that there are no stable personality traits or preference parameters that persons carry across different situations. Those who hold this view claim that personality psychology has little relevance for economics.

Keywords: Personality; Behavioral Economics; Cognitive Traits; Wages; Economic Success; Human Development; Person-situation Debate (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1016/B978-0-444-53444-6.00001-8

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