Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/253381 
Year of Publication: 
2022
Series/Report no.: 
SAFE Working Paper No. 348
Publisher: 
Leibniz Institute for Financial Research SAFE, Frankfurt a. M.
Abstract: 
We investigate the link between Big Five personality traits and the marginal propensity to consume (MPC) for users of a German financial account aggregator app. We use 1,700 survey responses and transaction data of 56,000 app users to assess whether Big Five personality traits help explain MPC heterogeneity. We find that extraversion corresponds to an increase in consumption whereas agreeableness and neuroticism correspond to a decrease in consumption. We test this with trust and risk preferences and find that risk indicates more explanatory power in consumption response than the Big Five. Our findings help policy makers target individuals more efficiently.
Subjects: 
Marginal Propensity to Consume
Big Five Personality
Survey Data
Transaction Data
Document Type: 
Working Paper

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