Narcissistic personality and tolerance to financial risk: arrogance makes us lose money?
There is an assumption in traditional economics, which is: the individual always behaves rationally and his purpose is to maximize his benefits. However, if behavioral economics teaches us anything, it is that the individual has limited rationality and, as a human being, is vulnerable to cognitive and emotional biases that influence his or her decisions. This article focuses on the narcissism bias and how it can shape an individual’s decision making. Specifically, it focuses on the relationship between narcissism and financial risk tolerance. The research question is whether there is such a relationship between both and, if so, how it works. ….[READ]
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