Personality and economics

Some points below for the session on personality and economics.

1. What is personality? (see e.g. page 1 - 6 Heckman: Integrating Personality into Economics). Why have economists become interested in looking at personality?

2. How is personality measured? (see e.g. 6-10 in Becker et al; pages 3-4 in identification paper). What is the relationship between personality and the idea of non-cognitive skills?

3. What is the relationship theoretically between personality and economic preferences? (see Borghans et al; Becker et al).

4. What is the empirical relation between economic preferences and personality measures? (see Daly et al; Becker et al; Anderson et al)

5. What are the main econometric issues with using personality measures in economic models of behaviour? (see Heckman 2011; and Borghans paper on Identification problems).

6. What are the potential policy implications and main areas for future development?

Reading List:

Almlund, Duckworth, Heckman, & Kautz (2011), Personality Psychology and Economics, IZA Discussion Papers

Becker, Deckers, Dohmen, Falk & Kosse (2012),  The Relationship Between Economic Preferences and Psychological Personality Measures, IZA Discussion Paper

Borghans, Duckworth, Heckman & ter Weel (2008), The Economics and Psychology of Personality Traits, Journal of Human Resources

Borghans, Golsteyn, Heckman & Humphries (2011), Identification Problems in Personality Psychology, IZA Discussion Papers

Daly, Delaney & Harmon (2009), Psychological and Biological Foundations of Time Preference, Journal of the European Economic Association

Heckman (2011), Integrating Personality Psychology into Economics, NBER Working Papers

Anderson, Burks, DeYoung & Rustichini (2011), Toward the Integration of Personality Theory and Decision Theory in the Explanation of Economic Behavior, Working Paper