The Impact of Soft Traits and Cognitive Abilities on Life Outcomes: Subjective Wellbeing, Education Achievement, and Rational Choices: a Chocolate Tasting Experiment
Linking to a growing literature in behavioral economics, this study combines neuroscience, psychology, and behavioral economics to empirically analyze the extent to which academic achievement, the relative weight of rationality vs. fairness in decision-making, and life satisfaction are affected by cognitive ability, persistent personality traits, and short-term stimuli based on psychological priming techniques. Prior to undertaking a course exam and playing the role of the respondent in an ultimatum game, a group of Masters and PhD students were stimulated either emotionally (via chocolate tasting) or rationally (via mathematical problem solving). Results show that, in addition to rational skills, short term stimuli and persistent personality traits have a significant impact on academic performance. They also influence the extent to which decisions are affected by notions of rationality and fairness and individuals’ subjective satisfaction with life. Given the economic importance of the associated outcomes, this opens up an important research agenda.
|Date of creation:||17 Jul 2012|
|Date of revision:||17 Jul 2012|
|Contact details of provider:|| Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma|
Web page: http://www.ceistorvergata.it
More information through EDIRC
|Order Information:|| Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma|
Web: http://www.ceistorvergata.it Email:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert H. Frank & Thomas Gilovich & Dennis T. Regan, 1993. "Does Studying Economics Inhibit Cooperation?," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 159-171, Spring.
- Bolton, Gary E, 1991.
"A Comparative Model of Bargaining: Theory and Evidence,"
American Economic Review,
American Economic Association, vol. 81(5), pages 1096-136, December.
- G. Bolton, 2010. "A comparative model of bargaining: theory and evidence," Levine's Working Paper Archive 263, David K. Levine.
- Bolton Gary E. & Zwick Rami, 1995.
"Anonymity versus Punishment in Ultimatum Bargaining,"
Games and Economic Behavior,
Elsevier, vol. 10(1), pages 95-121, July.
- Gary E Bolton & Rami Zuwick, 2010. "Anonymity versus punishments in ultimatum bargaining," Levine's Working Paper Archive 826, David K. Levine.
- James J. Heckman & Jora Stixrud & Sergio Urzua, 2006.
"The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior,"
NBER Working Papers
12006, National Bureau of Economic Research, Inc.
- James J. Heckman & Jora Stixrud & Sergio Urzua, 2006. "The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior," Journal of Labor Economics, University of Chicago Press, vol. 24(3), pages 411-482, July.
- Mathilde Almlund & Angela Lee Duckworth & James J. Heckman & Tim D. Kautz, 2011.
"Personality Psychology and Economics,"
NBER Working Papers
16822, National Bureau of Economic Research, Inc.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1986. "Fairness and the Assumptions of Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages S285-300, October.
When requesting a correction, please mention this item's handle: RePEc:rtv:ceisrp:241. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Barbara Piazzi)
If references are entirely missing, you can add them using this form.