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Personality, Group Decision-Making and Leadership

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  • Seda Ertac

    ()
    (Department of Economics, Koç University)

  • Mehmet Y. Gurdal

    ()
    (Department of Economics, TOBB-ETU)

Abstract

This paper explores the effect of personality traits on: (1) the willingness to make risk-taking decisions on behalf of a group, (2) the nature of "choice shifts", i.e. the difference between the amount of risk taken in the group context and individually. Openness and agreeableness emerge as significant determinants of the willingness to lead: non-leader women and non-leader men score lower on openness and higher in agreeableness compared to both leader men and leader women. Neuroticism explains the within-gender variance in individual risk-taking among women, who are on average more risk-averse than men. Subjects in general behave more cautiously when they are making risky decisions on behalf of a group. Among men, a higher agreeableness score implies higher caution in group decisions, while conscientiousness leads to less caution. In contrast, among women, a higher conscientiousness score implies higher caution in the group context, suggesting that the two genders might interpret the social norms in group decision-making differently.

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File URL: http://eaf.ku.edu.tr/sites/eaf.ku.edu.tr/files/erf_wp_1227.pdf
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Bibliographic Info

Paper provided by Koc University-TUSIAD Economic Research Forum in its series Koç University-TUSIAD Economic Research Forum Working Papers with number 1227.

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Length: 29 pages
Date of creation: Oct 2012
Date of revision:
Handle: RePEc:koc:wpaper:1227

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Keywords: Personality; leadership; gender; group decision-making; risk; choice shifts; experiments.;

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References

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  1. Müller, Julia & Schwieren, Christiane, 2011. "Can Personality Explain what is Underlying Women's Unwillingness to Compete?," Working Papers 0511, University of Heidelberg, Department of Economics.
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  9. Ertac, Seda & Gurdal, Mehmet Y., 2012. "Deciding to decide: Gender, leadership and risk-taking in groups," Journal of Economic Behavior & Organization, Elsevier, vol. 83(1), pages 24-30.
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  12. Verheul, Ingrid & Thurik, Roy & Grilo, Isabel & van der Zwan, Peter, 2012. "Explaining preferences and actual involvement in self-employment: Gender and the entrepreneurial personality," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 325-341.
  13. Masclet, David & Colombier, Nathalie & Denant-Boemont, Laurent & Lohéac, Youenn, 2009. "Group and individual risk preferences: A lottery-choice experiment with self-employed and salaried workers," Journal of Economic Behavior & Organization, Elsevier, vol. 70(3), pages 470-484, June.
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Cited by:
  1. Seda Ertac & Mehmet Y. Gurdal, 2013. "Preference Communication and Leadership in Group Decision-Making," Koç University-TUSIAD Economic Research Forum Working Papers 1324, Koc University-TUSIAD Economic Research Forum.
  2. Jeroen Nieboer, 2013. "Risk taking in diverse groups: Gender matters," Discussion Papers 2013-06, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.

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