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To whom and where the hill becomes difficult to climb: effects of personality and cognitive capacity in experimental DA markets

To whom and where the hill becomes difficult to climb: effects of personality and cognitive capacity in experimental DA markets
To whom and where the hill becomes difficult to climb: effects of personality and cognitive capacity in experimental DA markets
We present an analysis of the data gathered during eight double auction experimental sessions. The aim of this analysis is to assess the effect of the subjects’ working memory skills and personality traits on their performances. In the experiments, the subjects had to sequentially face four markets with different structures. We defined the strategies as the combinations of rounds at which the various tokens were bought. We found that the subjects separated into a few classes characterized by different strategies. Moreover, we found that, in general, the group that reached the best strategy was associated with higher working memory test scores than the other groups. However, we also found that the relationship between working memory and performance depends on the market structure. Finally, we found some evidence that, at least within some market structures, personality traits such a hard-working attitude, an easygoing and an outgoing personality were associated with better performance.
41-75
Tai, Chung-Ching
b3370b23-7410-4254-99bc-6711046e1095
Chen, Shu-Heng
1ea1dd54-b792-40aa-a12f-6ed745a538ba
Gostoli, Umberto
b45f10b9-2bc9-4db3-8558-f760b274fdd2
Shih, Kuo-Chuan
38837aeb-6cbc-4fce-ac3a-162d567eb0ee
Tai, Chung-Ching
b3370b23-7410-4254-99bc-6711046e1095
Chen, Shu-Heng
1ea1dd54-b792-40aa-a12f-6ed745a538ba
Gostoli, Umberto
b45f10b9-2bc9-4db3-8558-f760b274fdd2
Shih, Kuo-Chuan
38837aeb-6cbc-4fce-ac3a-162d567eb0ee

Tai, Chung-Ching, Chen, Shu-Heng, Gostoli, Umberto and Shih, Kuo-Chuan (2012) To whom and where the hill becomes difficult to climb: effects of personality and cognitive capacity in experimental DA markets. The Journal of Behavioral Finance & Economics, 2 (1), 41-75.

Record type: Article

Abstract

We present an analysis of the data gathered during eight double auction experimental sessions. The aim of this analysis is to assess the effect of the subjects’ working memory skills and personality traits on their performances. In the experiments, the subjects had to sequentially face four markets with different structures. We defined the strategies as the combinations of rounds at which the various tokens were bought. We found that the subjects separated into a few classes characterized by different strategies. Moreover, we found that, in general, the group that reached the best strategy was associated with higher working memory test scores than the other groups. However, we also found that the relationship between working memory and performance depends on the market structure. Finally, we found some evidence that, at least within some market structures, personality traits such a hard-working attitude, an easygoing and an outgoing personality were associated with better performance.

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Published date: 2012

Identifiers

Local EPrints ID: 434332
URI: https://eprints.soton.ac.uk/id/eprint/434332
PURE UUID: 363962a4-02d3-4e33-920a-9a39f1fa0fc7

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Date deposited: 19 Sep 2019 16:30
Last modified: 19 Sep 2019 16:30

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