Handbook of Research Methods and Applications in Experimental Economics
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Handbook of Research Methods and Applications in Experimental Economics

Edited by Arthur Schram and Aljaž Ule

This volume offers a comprehensive review of experimental methods in economics. Its 21 chapters cover theoretical and practical issues such as incentives, theory and policy development, data analysis, recruitment, software and laboratory organization. The Handbook includes separate parts on procedures, field experiments and neuroeconomics, and provides the first methodological overview of replication studies and a novel set-valued equilibrium concept. As a whole, the combination of basic methods and current developments will aid both beginners and advanced experimental economists.
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Chapter 11: Homo oeconomicus with a personality – trait-based differences in decision making

Carsten K.W. De Dreu and Jörg Gross

Abstract

This chapter integrates personality psychology with the empirical investigation of economic preferences and choice. We begin with a classic question in psychology: when and how can we identify behavior as emanating from stable personality differences, from situational pressures, or some combination? Next, we review the psychometric methods used in personality psychology, with an emphasis on personality variables captured in the Big Five theory of personality and the biobehavioral approach/avoidance system that have been robustly shown to systematically influence economic decision making. We finally examine how the methodology of personality psychology can be applied in the realm of economic preferences and its measurement.

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