We administer a survey to thousands of affluent Americans about their personalities and investments. The Big Five personality traits can explain the heterogeneity among investors in their beliefs about the stock market and economy, risk preferences, and social-interaction tendencies. Two...

We survey thousands of affluent American investors to examine the relationship between personalities and investment decisions. The Big Five personality traits correlate with investors' beliefs about the stock market and economy, risk preferences, and social interaction tendencies. Two...