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Risk attitudes as an independent predictor of debt
Author(s)
Date Issued
2010-09-17
Date Available
2011-01-07T17:23:08Z
Abstract
This paper examines how attitudes to risk relate to other psychological constructs of personality and consideration of future consequences (a proxy for time preferences) and how risk attitudes relate to credit behaviour and debt holdings. There is a small correlation between risk attitudes and consideration of future consequences. As regards personality, risk attitudes are most positively related to extraversion and openness to experience and are negatively related to neuroticism. Risk willingness is a robust predictor of debt holdings even controlling for demographics, personality, consideration of future consequences and other covariates.
Sponsorship
Not applicable
Type of Material
Working Paper
Publisher
University College Dublin. Geary Institute
Series
UCD Geary Institute Discussion Paper Series
WP 10 49
Classification
D81
D12
Subject – LCSH
Risk-taking (Psychology)--Economic aspects
Debt
Finance, Personal--Psychological aspects
Web versions
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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