Personality and Preference: A Laboratory Study

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Title:	Personality and Preference: A Laboratory Study
Authors:	Chie, Bin-tzong
Contributors:	淡江大學產業經濟學系
Keywords:	Experimental Economics;Lai's Personality Inventory;Preference;Utility Maximization
Date:	2012-06
Issue Date:	2012-01-19 16:43:31 (UTC+8)
Publisher:	Academy of Behavioral Finance & Economics
Abstract:	This paper attempts to explain the relationship between personality traits and commodity preferences. The norm-referenced test of personality has been used so as to infer economic behavior with a limited sample size. In this study, we use Lai’s Personality Inventory to measure introversion, extroversion, mental health, emotional stability and social adaptability of subjects.In addition to existing psychological measurements, we have also developed measurements for the rationale of decision-making over various commodities, based on the subjects’ behavior of selectivity and utility maximization. The results have shown that the behavior in the pursuit of utility is associated with a person's emotional stability and mental health. Emotional instability and poor mental health often result in a deviation from utility maximization.
Relation:	The Journal of the Academy Behavioral Finance & Economics 2(1), pp.81-96
Appears in Collections:	[Graduate Institute & Department of Industrial Economics] Journal Article

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