This paper investigates the relationship between the big five personality traits and participation in pension schemes using British household survey data from Understanding Society (the UK Household Longitudinal Study). Our results show Extraversion significantly reduces the likelihood of...

This paper explores whether and how feedback, framing, personality, and risk attitude could affect financial optimism in an enclosed experimental environment. Evidence in this paper shows that feedback on investment performance affects financial optimism depending on whether people forecast...

This study investigates whether being financially optimistic has any benefits on objective and subjective well-being. We define financial optimism as the likelihood of a positive outcome relative to rational expectation in an individual's future financial situation. We analyze data from the...

This article investigates the relationship between financial optimism and individuals' pension choice in the UK. The authors used a comprehensive framework for measuring financial optimism and found that the firms that optimists work for are significantly less likely to have pension schemes for...

This study develops innovative measures of financial optimism by defining optimism as the overestimation of the favourable outcome in an individual's future financial situation. The paper finds that optimism has a positive influence on an individual's preference for risky portfolios and a...

This study develops three heuristics to measure financial optimism: financial expectation, a priori optimism, and a posteriori optimism. This paper finds that financial optimism has a significant positive effect on risk taking behaviour. Optimistic investors choose risky portfolios over...

This paper investigates the relationship between financial optimism and non-participation in pension schemes in the UK. We show that financial optimism reduces the probability of employees joining employer run pension schemes and also the probability of the self-employed subscribing to private...