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Conscientious consumers? Personality, preferences and expenditures in the UK

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  • Benjamin Volland

    (University of Neuchâtel)

Abstract

This study explores the relationship between Big Five personality traits and expenditures for food away from home and other leisure activities using data from a large, representative sample of the population in the United Kingdom. Results from a set of simple mediation analyses show that extraversion, openness and agreeableness are the most relevant dimensions for predicting expenditures on both activities, and that the effects of the latter two traits are overwhelmingly mediated by other socio-economic characteristics. Further analyses provide little support for a close relationship between personality traits and preferences over different leisure activities, and thus substantiate approaches that include personality as a constraint into economic models of human behavior.

Suggested Citation

  • Benjamin Volland, 2019. "Conscientious consumers? Personality, preferences and expenditures in the UK," Journal of Bioeconomics, Springer, vol. 21(2), pages 71-109, July.
    • Handle: RePEc:kap:jbioec:v:21:y:2019:i:2:d:10.1007_s10818-018-9276-0
    DOI: 10.1007/s10818-018-9276-0
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    More about this item

    Keywords

    Personality; Five factor model; Expenditures; Leisure; UK;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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