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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Personality Traits and Investment Styles |
| Organization Unit | |
| Authors |
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| Language |
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| Institution | University of Zurich |
| Series Name | Swiss Finance Institute Research Paper |
| Number | 22-16 |
| Number of Pages | 30 |
| Date | 2023 |
| Abstract Text | We collected detailed personality traits data and preferred investment styles of participants from the German population. We find a significant relationship between personality traits and styles. Then we established a personality-based style profiler based on a least-distance algorithm. We tested its out-of-sample performance. The results of AB testing show that the style profiler provides significantly better fitting style recommendations than a random recommendation. Moreover, including socio-economic characteristics increases the fit. Our results suggest that further research on wealth management could benefit from including the personality of individual investors as a crucial factor, contributing to more satisfying recommendations helping people to invest consistently over time. |
| Free access at | DOI |
| Digital Object Identifier | 10.2139/ssrn.4029750 |
| Other Identification Number | merlin-id:22705 |
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