|Appears in Collections:||Economics Journal Articles|
|Peer Review Status:||Refereed|
|Title:||Personality and economic choices|
Hybrid choice models
|Citation:||Boyce C, Czajkowski M & Hanley N (2019) Personality and economic choices. Journal of Environmental Economics and Management, 94, pp. 82-100. https://doi.org/10.1016/j.jeem.2018.12.004|
|Abstract:||There is substantial variation in individual preferences for public goods, yet much of that variation remains poorly understood. However, simple measures of personality can help to explain economic values and choices in a systematic way. In this paper, we examine the effects of personality on individual economic choices over public environmental goods. Based on three datasets from three separate stated preference studies, we use a hybrid choice econometric framework to examine the effects of personality on preferences for the status quo, changes in environmental quality, and costs of investing in environmental improvements. We find effects that are consistent across all datasets. Personality, a stable feature of an individual's character that is simple to measure, enriches explanations of why the demand for environmental goods varies across people, provides an indication of how different people are likely to react to the introduction of environmental policies, and explains substantial differences in Willingness to Pay.|
|Rights:||Accepted refereed manuscript of: Boyce C, Czajkowski M & Hanley N (2019) Personality and economic choices. Journal of Environmental Economics and Management, 94, pp. 82-100. https://doi.org/10.1016/j.jeem.2018.12.004 © 2018, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/|
|176941.pdf||Fulltext - Accepted Version||649.88 kB||Adobe PDF||View/Open|
This item is protected by original copyright
A file in this item is licensed under a Creative Commons License
Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.
If you believe that any material held in STORRE infringes copyright, please contact email@example.com providing details and we will remove the Work from public display in STORRE and investigate your claim.