Economic environment and personality: How do they influence investment decisions and regrets?

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Zhenyu Xiao
Dengfeng Wang
Yang Liu
Cite this article:  Xiao, Z., Wang, D., & Liu, Y. (2009). Economic environment and personality: How do they influence investment decisions and regrets?. Social Behavior and Personality: An international journal, 37(10), 1297-1304.


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In the study the ways that economic environment and personality influence investment decision making are investigated with an emphasis on the experience of regret. Eighty-four Chinese college students completed an investment questionnaire and NEO-FFI (Costa & McCrae, 1992). Results indicated that the environment mainly affects willingness to invest. Participants exhibited a strong desire to save their money when the macroeconomic situation was pessimistic; in an optimistic environment more money was invested. It was also found that personality influences investment-related regret more than does environment. Those with a higher level of neuroticism were found to experience more regret than those lower in neuroticism, when faced with a wrong investment decision.

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