Pub Date : 2025-12-01Epub Date: 2025-09-17DOI: 10.1016/j.socec.2025.102448
Cong Li, Danlei Chen, Jingxian Wu, Qiqi Liu
Health behaviors, which involve trade-offs between current costs and future benefits, are closely associated with individuals’ time preferences. This study investigates the effectiveness of two time preference elicitation methods—indirect (experimental) and direct (self-reported)—in predicting health behaviors using a representative sample of rural residents from Shaanxi, China. These methods were evaluated across two domains: financial and health. Our findings indicate that direct methods significantly outperformed indirect methods in predicting smoking and physical exercise behaviors in survey settings. Furthermore, time preference methods in the health domain were more predictive of health behaviors than those in the financial domain. Specifically, health-domain time preferences significantly predicted both smoking and physical exercise, while financial-domain preferences only predicted physical exercise. Based on these findings, we recommend the use of direct time preference elicitation methods from the health domain in large-scale questionnaire surveys to assess time preferences related to health behaviors in rural populations.
{"title":"Effectiveness of direct and indirect time preference elicitation methods across domains in predicting health behaviors: Evidence from Rural China","authors":"Cong Li, Danlei Chen, Jingxian Wu, Qiqi Liu","doi":"10.1016/j.socec.2025.102448","DOIUrl":"10.1016/j.socec.2025.102448","url":null,"abstract":"<div><div>Health behaviors, which involve trade-offs between current costs and future benefits, are closely associated with individuals’ time preferences. This study investigates the effectiveness of two time preference elicitation methods—indirect (experimental) and direct (self-reported)—in predicting health behaviors using a representative sample of rural residents from Shaanxi, China. These methods were evaluated across two domains: financial and health. Our findings indicate that direct methods significantly outperformed indirect methods in predicting smoking and physical exercise behaviors in survey settings. Furthermore, time preference methods in the health domain were more predictive of health behaviors than those in the financial domain. Specifically, health-domain time preferences significantly predicted both smoking and physical exercise, while financial-domain preferences only predicted physical exercise. Based on these findings, we recommend the use of direct time preference elicitation methods from the health domain in large-scale questionnaire surveys to assess time preferences related to health behaviors in rural populations.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102448"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145157440","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-10-09DOI: 10.1016/j.socec.2025.102456
Ágoston Temesi , Tamás Harci , Brigitta Unger-Plasek , Zoltán Lakner , László Bendegúz Nagy , Riccardo Vecchio
The demand for kosher foods is significantly increasing worldwide, however little is known about the characteristics and motivations driving consumer choices. Applying a non-hypothetical artefactual field experiment, we explore the driving forces of Jewish and non-Jewish consumers’ monetary preferences for a kosher product and its conventional counterpart. The product investigated in the study was pálinka, a protected designation of origin spirit, well known to Hungarian citizens and widely available in a kosher version.
163 over-aged consumers, nearly half of whom identified as Jewish, participated in incentive-compatible experiments in Budapest (Hungary). Findings show that respondents who prefer the kosher spirit tend to have higher education levels, consider kosher products healthier, and are primarily Jewish, with higher Power (sense of greater power) value. Surprisingly, findings reveal that non-Jewish respondents who value kosher product attributes have a higher willingness to pay a premium compared to Jewish consumers.
{"title":"Jewish and not Jewish consumers’ preferences for a typical kosher product – an artefactual field experiment","authors":"Ágoston Temesi , Tamás Harci , Brigitta Unger-Plasek , Zoltán Lakner , László Bendegúz Nagy , Riccardo Vecchio","doi":"10.1016/j.socec.2025.102456","DOIUrl":"10.1016/j.socec.2025.102456","url":null,"abstract":"<div><div>The demand for kosher foods is significantly increasing worldwide, however little is known about the characteristics and motivations driving consumer choices. Applying a non-hypothetical artefactual field experiment, we explore the driving forces of Jewish and non-Jewish consumers’ monetary preferences for a kosher product and its conventional counterpart. The product investigated in the study was pálinka, a protected designation of origin spirit, well known to Hungarian citizens and widely available in a kosher version.</div><div>163 over-aged consumers, nearly half of whom identified as Jewish, participated in incentive-compatible experiments in Budapest (Hungary). Findings show that respondents who prefer the kosher spirit tend to have higher education levels, consider kosher products healthier, and are primarily Jewish, with higher Power (sense of greater power) value. Surprisingly, findings reveal that non-Jewish respondents who value kosher product attributes have a higher willingness to pay a premium compared to Jewish consumers.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102456"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145265489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-11-13DOI: 10.1016/j.socec.2025.102479
Stein T. Holden , Sarah Tione , Mesfin Tilahun , Samson Katengeza
Multiple Price Lists (MPLs) or Choice Lists (CLs) are widely used to elicit risk and time preferences, yet are prone to cognitive biases, particularly among respondents with limited numeracy skills. This paper compares three elicitation approaches; row-by-row from the top, from the bottom, and a Rapid Elicitation (RE) method using random starting points; in a field experiment with 906 rural Malawian farmers. With 20 MPLs per subject, we estimate starting point and order biases in switch points using nonparametric and parametric methods.
Row-by-row elicitation from the top or bottom introduces significant bias in preference elicitation, with effect sizes of up to 0.4 standard deviations. In contrast, the RE approach yields significantly lower starting point bias (Cohen’s d of 0.08 or less). Order effects were present, but of smaller magnitude. RE also reduced the cognitive load and shortened the response time.
These findings underscore the importance of the elicitation method in experimental design, particularly in low-literacy settings. The RE method offers a more reliable and scalable tool for eliciting risk and time preferences in development economics.
{"title":"Elicitation bias in Multiple Price Lists: A field experiment","authors":"Stein T. Holden , Sarah Tione , Mesfin Tilahun , Samson Katengeza","doi":"10.1016/j.socec.2025.102479","DOIUrl":"10.1016/j.socec.2025.102479","url":null,"abstract":"<div><div>Multiple Price Lists (MPLs) or Choice Lists (CLs) are widely used to elicit risk and time preferences, yet are prone to cognitive biases, particularly among respondents with limited numeracy skills. This paper compares three elicitation approaches; row-by-row from the top, from the bottom, and a Rapid Elicitation (RE) method using random starting points; in a field experiment with 906 rural Malawian farmers. With 20 MPLs per subject, we estimate starting point and order biases in switch points using nonparametric and parametric methods.</div><div>Row-by-row elicitation from the top or bottom introduces significant bias in preference elicitation, with effect sizes of up to 0.4 standard deviations. In contrast, the RE approach yields significantly lower starting point bias (Cohen’s d of 0.08 or less). Order effects were present, but of smaller magnitude. RE also reduced the cognitive load and shortened the response time.</div><div>These findings underscore the importance of the elicitation method in experimental design, particularly in low-literacy settings. The RE method offers a more reliable and scalable tool for eliciting risk and time preferences in development economics.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102479"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145579146","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-10-22DOI: 10.1016/j.socec.2025.102463
Noémi Berlin , Tarek Jaber-Lopez , Moustapha Sarr
In a lab-in-the-field experiment, we investigate the influence of social norms on 300 parents’ beliefs regarding the nutritional quality of food items and their subsequent food choices. We use a 3 × 2 between-subject experimental design where we vary two factors: 1 — the social norm provided to parents: a descriptive norm (what other parents choose) vs. an injunctive norm (what other parents approve of), and 2 — the recipient of the food decisions made by parents: their own child vs. an unknown child. Parents participate in a two-stage process. In the first stage, we elicit their beliefs regarding the nutritional quality of various food items and ask them to make a food basket without specific information. In the second stage, based on their assigned treatment, they receive specific information and repeat the belief elicitation and the food basket selection tasks. We find that only the descriptive norm significantly reduces parents’ overestimation rate of items’ nutritional quality. Injunctive norm significantly improves the nutritional quality of both, the parent’s and child’s baskets. Descriptive norm significantly improves the nutritional quality of child’s baskets only when parents are choosing for unknown child.
{"title":"The effect of social norms on parents’ beliefs and food choices: Evidence from a lab-in-the-field experiment","authors":"Noémi Berlin , Tarek Jaber-Lopez , Moustapha Sarr","doi":"10.1016/j.socec.2025.102463","DOIUrl":"10.1016/j.socec.2025.102463","url":null,"abstract":"<div><div>In a lab-in-the-field experiment, we investigate the influence of social norms on 300 parents’ beliefs regarding the nutritional quality of food items and their subsequent food choices. We use a 3 × 2 between-subject experimental design where we vary two factors: 1 — the social norm provided to parents: a <em>descriptive norm</em> (what other parents choose) vs. an <em>injunctive norm</em> (what other parents approve of), and 2 — the recipient of the food decisions made by parents: their own child vs. an unknown child. Parents participate in a two-stage process. In the first stage, we elicit their beliefs regarding the nutritional quality of various food items and ask them to make a food basket without specific information. In the second stage, based on their assigned treatment, they receive specific information and repeat the belief elicitation and the food basket selection tasks. We find that only the <em>descriptive norm</em> significantly reduces parents’ overestimation rate of items’ nutritional quality. <em>Injunctive norm</em> significantly improves the nutritional quality of both, the parent’s and child’s baskets. <em>Descriptive norm</em> significantly improves the nutritional quality of child’s baskets only when parents are choosing for unknown child.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102463"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145361961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-10-09DOI: 10.1016/j.socec.2025.102459
Katja Görlitz , Tim Sels
This study analyzes the gender gap in self- and peer evaluations based on a laboratory experiment. Five players performed a creative task in a high-stakes winner-takes-all tournament. The treatment without validation informed all players that evaluations that they will conduct determine who will win. The treatment with public validation additionally informed them that they can see an objective performance measure of all players (including themselves) at the end of the experiment which is irrelevant for winning. The results show that men give themselves better self-evaluations compared to women when there is no validation. This gender difference vanishes completely when providing public validation.
{"title":"Gender differences in performance evaluations","authors":"Katja Görlitz , Tim Sels","doi":"10.1016/j.socec.2025.102459","DOIUrl":"10.1016/j.socec.2025.102459","url":null,"abstract":"<div><div>This study analyzes the gender gap in self- and peer evaluations based on a laboratory experiment. Five players performed a creative task in a high-stakes winner-takes-all tournament. The treatment without validation informed all players that evaluations that they will conduct determine who will win. The treatment with public validation additionally informed them that they can see an objective performance measure of all players (including themselves) at the end of the experiment which is irrelevant for winning. The results show that men give themselves better self-evaluations compared to women when there is no validation. This gender difference vanishes completely when providing public validation.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102459"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145415085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-07-14DOI: 10.1016/j.socec.2025.102401
Gonzalo Llamosas García , Cristina Mazas Pérez-Oleaga
Financial education is increasingly essential for safeguarding both individual and corporate well-being. This study systematically reviews global financial education experiments using a dual-method framework that integrates a deep learning classifier with advanced multivariate statistical techniques. Our analysis indicates that while short-term improvements in financial literacy are common, such gains tend to diminish over time without ongoing reinforcement. Moreover, the limited impact of digital innovations and monetary incentives suggests that successful financial education depends on more than simply deploying technological solutions or extrinsic rewards. Overall, this review provides valuable insights into the evolving landscape of financial education in a dynamic economic context and underscores the need for sustainable strategies that secure lasting improvements in financial literacy.
{"title":"What works in financial education? Experimental evidence on program impact","authors":"Gonzalo Llamosas García , Cristina Mazas Pérez-Oleaga","doi":"10.1016/j.socec.2025.102401","DOIUrl":"10.1016/j.socec.2025.102401","url":null,"abstract":"<div><div>Financial education is increasingly essential for safeguarding both individual and corporate well-being. This study systematically reviews global financial education experiments using a dual-method framework that integrates a deep learning classifier with advanced multivariate statistical techniques. Our analysis indicates that while short-term improvements in financial literacy are common, such gains tend to diminish over time without ongoing reinforcement. Moreover, the limited impact of digital innovations and monetary incentives suggests that successful financial education depends on more than simply deploying technological solutions or extrinsic rewards. Overall, this review provides valuable insights into the evolving landscape of financial education in a dynamic economic context and underscores the need for sustainable strategies that secure lasting improvements in financial literacy.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102401"},"PeriodicalIF":1.6,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144654313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-10-13DOI: 10.1016/j.socec.2025.102462
Xinyu Wang, Yinyu Zhao, Zemiao Xi
Food consumption is one of the main sources of global carbon emissions, and promoting low-carbon food consumption is seen as a key strategy for sustainable development. This study conducted a randomized controlled trial with 1388 Chinese university students in 2024, using the contingent valuation method and interval regression model to explore how peer effects affect consumers’ willingness to pay (WTP) for low-carbon milk. The study reveals an asymmetric peer effect on WTP for low-carbon milk, with positive influence being more pronounced than negative. The information intervention enhanced the positive peer effect and mitigated the negative peer effect, but stand-alone information showed no significant impact. Heterogeneous effects were observed across SN levels. Given that peer effects may be an essential driver of low-carbon food consumption, it is recommended that public policy consider its catalytic role.
{"title":"Assessing the peer effects on willingness to pay for low-carbon food: Evidence from a randomized controlled trial","authors":"Xinyu Wang, Yinyu Zhao, Zemiao Xi","doi":"10.1016/j.socec.2025.102462","DOIUrl":"10.1016/j.socec.2025.102462","url":null,"abstract":"<div><div>Food consumption is one of the main sources of global carbon emissions, and promoting low-carbon food consumption is seen as a key strategy for sustainable development. This study conducted a randomized controlled trial with 1388 Chinese university students in 2024, using the contingent valuation method and interval regression model to explore how peer effects affect consumers’ willingness to pay (WTP) for low-carbon milk. The study reveals an asymmetric peer effect on WTP for low-carbon milk, with positive influence being more pronounced than negative. The information intervention enhanced the positive peer effect and mitigated the negative peer effect, but stand-alone information showed no significant impact. Heterogeneous effects were observed across SN levels. Given that peer effects may be an essential driver of low-carbon food consumption, it is recommended that public policy consider its catalytic role.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102462"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145319918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-09-30DOI: 10.1016/j.socec.2025.102454
Rima-Maria Rahal
Open Science adoption may be seen as a process of normative change: Researchers must decide whether they will integrate Open Science principles into their work. Here, I outline first steps for developing a utility function, modeling individual researchers’ choices to engage in Open (OS) or Covert (CR) Research. In addition, I suggest examining economic games for their potential to partially model decision settings in which researchers operate. I argue that empirically studying the influence of researcher considerations, research environments and the academic incentive system on research norm compliance is a promising basis for developing targeted interventions and designing effective institutions in which robust and transparent research practices become the norm.
{"title":"Advancing openness in economic research through the lens of behavioral and experimental economics","authors":"Rima-Maria Rahal","doi":"10.1016/j.socec.2025.102454","DOIUrl":"10.1016/j.socec.2025.102454","url":null,"abstract":"<div><div>Open Science adoption may be seen as a process of normative change: Researchers must decide whether they will integrate Open Science principles into their work. Here, I outline first steps for developing a utility function, modeling individual researchers’ choices to engage in Open (OS) or Covert (CR) Research. In addition, I suggest examining economic games for their potential to partially model decision settings in which researchers operate. I argue that empirically studying the influence of researcher considerations, research environments and the academic incentive system on research norm compliance is a promising basis for developing targeted interventions and designing effective institutions in which robust and transparent research practices become the norm.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102454"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145265488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-09-29DOI: 10.1016/j.socec.2025.102452
Christian Ben Lakhdar , Antoine Deplancke , Fabrice Le Lec , Sophie Massin , Anthony Piermatteo , Nicolas G. Vaillant
In response to the health impacts of smoking, cigarette packs with health warnings have proven effective. However, it remains undetermined whether enhancements or modifications could amplify their impact, in helping smokers to quit and/or deterring initiation. We aimed at providing new evidence on this issue by using different motivational leverages identified in the psychology and economic literature. We developed new warnings based on commitment, cognitive dissonance, empowerment and Electronic Nicotine Delivery Systems use. To determine which types of warnings are the most effective, we conducted an online experiment where participants (n = 860, including 335 smokers) were exposed to a specific type of warning, using conventional regulatory warnings as a control. Traditional indicators (measures of emotions, reactions, beliefs, perceived efficacy and intentions) and an innovative behavioural indicator (incentive-compatible willingness-to-pay) were used to assess the efficacy of the warnings. The conventional regulatory warnings performed at least as well as the alternative ones in almost all the relevant dimensions. In this respect, alternative warnings are disappointing, although some have a positive effect compared to no warning and may be used as a basis for complementary or targeted warnings or prevention measures in other contexts.
{"title":"‘You can quit!’: Exploring the efficacy of new cigarette pack warnings through an experiment","authors":"Christian Ben Lakhdar , Antoine Deplancke , Fabrice Le Lec , Sophie Massin , Anthony Piermatteo , Nicolas G. Vaillant","doi":"10.1016/j.socec.2025.102452","DOIUrl":"10.1016/j.socec.2025.102452","url":null,"abstract":"<div><div>In response to the health impacts of smoking, cigarette packs with health warnings have proven effective. However, it remains undetermined whether enhancements or modifications could amplify their impact, in helping smokers to quit and/or deterring initiation. We aimed at providing new evidence on this issue by using different motivational leverages identified in the psychology and economic literature. We developed new warnings based on commitment, cognitive dissonance, empowerment and Electronic Nicotine Delivery Systems use. To determine which types of warnings are the most effective, we conducted an online experiment where participants (<em>n</em> = 860, including 335 smokers) were exposed to a specific type of warning, using conventional regulatory warnings as a control. Traditional indicators (measures of emotions, reactions, beliefs, perceived efficacy and intentions) and an innovative behavioural indicator (incentive-compatible willingness-to-pay) were used to assess the efficacy of the warnings. The conventional regulatory warnings performed at least as well as the alternative ones in almost all the relevant dimensions. In this respect, alternative warnings are disappointing, although some have a positive effect compared to no warning and may be used as a basis for complementary or targeted warnings or prevention measures in other contexts.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102452"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145265491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01Epub Date: 2025-10-20DOI: 10.1016/j.socec.2025.102468
Taehyun Lee , Almas Heshmati
This study investigates the relationship between household debt and the Big Five personality traits using data from the Korea Labor and Income Panel Study. The extensive and intensive margins of debt participation are analyzed through regression analysis. To address potential sample selection bias from non-random missing data, a Heckman selection model is employed. The results indicate that openness is negatively associated with the probability of debt-holding, while conscientiousness is positively associated. To enhance causal interpretation, panel models are additionally estimated, treating personality traits as predetermined. While personality traits do not significantly predict year-on-year changes in debt amounts, they remain a relevant predictor of debt participation. These findings suggest that personality-based financial profiling may help identify households more prone to incurring debt. The results are interpreted in the light of South Korea’s cultural context, particularly the influence of Chemyeon (social face), and compared with findings from Western societies.
{"title":"The relationship between household debt and the Big Five personality traits","authors":"Taehyun Lee , Almas Heshmati","doi":"10.1016/j.socec.2025.102468","DOIUrl":"10.1016/j.socec.2025.102468","url":null,"abstract":"<div><div>This study investigates the relationship between household debt and the Big Five personality traits using data from the Korea Labor and Income Panel Study. The extensive and intensive margins of debt participation are analyzed through regression analysis. To address potential sample selection bias from non-random missing data, a Heckman selection model is employed. The results indicate that openness is negatively associated with the probability of debt-holding, while conscientiousness is positively associated. To enhance causal interpretation, panel models are additionally estimated, treating personality traits as predetermined. While personality traits do not significantly predict year-on-year changes in debt amounts, they remain a relevant predictor of debt participation. These findings suggest that personality-based financial profiling may help identify households more prone to incurring debt. The results are interpreted in the light of South Korea’s cultural context, particularly the influence of <em>Chemyeon</em> (social face), and compared with findings from Western societies.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"119 ","pages":"Article 102468"},"PeriodicalIF":1.4,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145361960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
扫码关注我们
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号