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Personality traits and strategic behavior: Anxiousness and aggressiveness in entry games

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  • Kugler, Tamar
  • Neeman, Zvika
  • Vulkan, Nir

Abstract

We demonstrate that personality has a systematic effect on strategic behavior. We focus on two personality traits: anxiousness and aggressiveness, and consider a 2-player entry game, where each player can guarantee a payoff by staying out, a higher payoff if she is the only player to enter, but a lower payoff if both players enter. We find that: anxious players enter less; aggressive players enter more; players are more likely to enter against anxious than non-anxious players; and players are less likely to enter against aggressive than non-aggressive players. We discuss the possible mechanism through which personality affects strategic behavior.

Suggested Citation

  • Kugler, Tamar & Neeman, Zvika & Vulkan, Nir, 2014. "Personality traits and strategic behavior: Anxiousness and aggressiveness in entry games," Journal of Economic Psychology, Elsevier, vol. 42(C), pages 136-147.
    • Handle: RePEc:eee:joepsy:v:42:y:2014:i:c:p:136-147
    DOI: 10.1016/j.joep.2014.02.006
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    References listed on IDEAS

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    1. Battigalli, Pierpaolo & Dufwenberg, Martin, 2009. "Dynamic psychological games," Journal of Economic Theory, Elsevier, vol. 144(1), pages 1-35, January.
    2. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    3. Pierpaolo Battigalli & Martin Dufwenberg, 2007. "Guilt in Games," American Economic Review, American Economic Association, vol. 97(2), pages 170-176, May.
    4. Vincent P. Crawford & Miguel A. Costa-Gomes & Nagore Iriberri, 2010. "Strategic Thinking," Levine's Working Paper Archive 661465000000001148, David K. Levine.
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    More about this item

    Keywords

    Entry game; anxiousness; aggressiveness; Personality; strategic behavior;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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