OCEAN wealth profiles: A latent profile analysis of personality traits and financial outcomes

Study

Name

Description

This study used a latent profile analysis to assess how different combinations of Big Five personality traits (OCEAN; openness, conscientiousness, extraversion, agreeableness, neuroticism) were associated with financial outcomes.

Types

Authors

Claims from

A personality profile referred to as "resilient" scored high on all Big Five personality traits (openness, conscientiousness, extraversion, agreeableness) except neuroticism. This group had the highest average income relative to the other two personality profile groups identified (statistically significantly higher than an "undercontrolled" group that scored high on neuroticism and extraversion), and a moderate amount of risk tolerance.

Journal

Personality and Individual Differences

Personality Inventory

OCEAN

Supporting arguments

Higher scores on personality extraversion are associated with higher wealth.

Higher scores on the personality trait conscientiousness are associated with higher income and wealth.

Topics

Personality

Personality tests

Web URL

https://doi.org/10.1016/j.paid.2021.111300

Referenced by

A personality profile referred to as "resilient" scored high on all Big Five personality traits (openness, conscientiousness, extraversion, agreeableness) except neuroticism. This group had the highest average income relative to the other two personality profile groups identified (statistically significantly higher than an "undercontrolled" group that scored high on neuroticism and extraversion), and a moderate amount of risk tolerance.

Psychology

Claim