Risk attitudes as an independent predictor of debt

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Title: Risk attitudes as an independent predictor of debt
Authors: Daly, Michael
Delaney, Liam
McManus, Séamus
Permanent link: http://hdl.handle.net/10197/2701
Date: 17-Sep-2010
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.
Funding Details: Not applicable
Type of material: Working Paper
Publisher: University College Dublin. Geary Institute
Series/Report no.: UCD Geary Institute Discussion Paper Series; WP 10 49
Subject LCSH: Risk-taking (Psychology)--Economic aspects
Finance, Personal--Psychological aspects
Other versions: http://ideas.repec.org/p/ucd/wpaper/201049.html
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers

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