Naked Aggression: Personality and portfolio manager performance

Noe, Thomas and Vulkan, Nir (2018) Naked Aggression: Personality and portfolio manager performance. PLoS ONE, 13 (2).

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Abstract

We provide evidence that a personality trait, aggression, has a first-order effect on group financial decision making. In a laboratory experiment on group portfolio choice, highly aggressive subjects (measured by a standard psychology test) were much more likely to recommend risky investment strategies consistent with their own personal information, regardless of the information received by other group members. Outside of this group context, aggression had no effect on subject behavior. Thus, our aggression
measure appears to capture an aggressive disposition, which seeks to dominate group decisions, rather than simply reflect risk attitudes or cognitive biases.

Item Type: Article
Keywords: finance, decision making, personality traits,
Subject(s): Finance
Date Deposited: 12 Feb 2018 12:45
Last Modified: 14 Jun 2018 12:12
Funders: N/A
URI: http://eureka.sbs.ox.ac.uk/id/eprint/6747

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