Pers_and_Preferences
Financiado
Personality, Preferences, and Reference-Dependence
In recent years, the study of personality (noncognitive skills) has significantly increased in economics. There has been an explosion of empirical work that shows the promise and relevance of incorporating such factors into the fi...
In recent years, the study of personality (noncognitive skills) has significantly increased in economics. There has been an explosion of empirical work that shows the promise and relevance of incorporating such factors into the field. But we lack a definition of relevant personality traits in terms of primitive preferences, the way we do with risk and time preferences, for instance. Most studies rely on self-reported surveys, but this is only part of the issue: without a sharp, agreed-upon definition, it is difficult to build models, make predictions or elicit these measures in a way that unambiguously separates the primitives from the outcomes. My aim is to provide these notions.
Part 1 focuses on attitudes towards success and failure, and the thresholds that separate one from the other. Such attitudes are not only present in the way we discuss personality (e.g. perseverance and tenacity), they also appear in seemingly distant strands of economics, notably through the widely used notion of gain-loss sensitivity, notions of aspirations, etc. Within a standard decision theoretic setting, we define such attitudes as features of the primitive preferences over lotteries, we characterize the corresponding utility representations, and provide indices of the intensity of each attitude, in a manner analogous to the Arrow-Pratt coefficients for risk-aversion.
These notions have crucial implications on two main levels: first, they generate testable predictions for choice under risk, and novel insights about central notions within the established economics toolkit; second, they expand the domain of economics methodology to the study of personality, by providing choice-based measures grounded on preferences, thereby bridging the gap between insightful notions from psychology and the desiderata of rigorous economic analysis. These two aspects are the focus of Parts 2 and 3, respectively, which tackle the problem through a series of large-scale experiments.
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Duración del proyecto: 67 meses
Fecha Inicio: 2023-06-22
Fecha Fin: 2029-01-31
Fecha Fin: 2029-01-31
Línea de financiación: concedida
El organismo HORIZON EUROPE notifico la concesión del proyecto el día 2023-06-22
Línea de financiación objetivo
El proyecto se financió a través de la siguiente ayuda:
ERC-2022-COG:
ERC CONSOLIDATOR GRANTS
Cerrada
hace 2 años
Presupuesto
El presupuesto total del proyecto asciende a
2M€
Líder del proyecto
UNIVERSITAT POMPEU FABRA
No se ha especificado una descripción o un objeto social para esta compañía.
Total investigadores
321
Total investigadores
321