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Personality in Economics - Coggle Diagram
Personality in Economics
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Caveats with GDP, IQ and Traits
Conclusion based on population cannot be assumed for individuals of that population (Ecological fallacies)
Migration: social/ cultural characteristics of a place can attract individuals of a certain personality trait
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Unemployment
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Egan et al 2017: Longitudinal study. high levels of adolescent conscientiousness was shown to mitigate against future episodes of unemployment
Viinikainen & Kokko, 2012: High Openness is linked to more periods of unemployments. Greater willingness to explore new jobs
High neuroticism also predicts unemployement (Uysal & Pohlmeier, 2011)
Turnover and Absenteeism
High levels of turnovers incur new recruitment roles, lack of role continuity and loss of organisation lnowledge and reduced staff morale
(Salgado 2002) and (Judge, Martocchio & Thoesen, 1997) Higher levels of conscientiousness and low levels of neuroticism are linked to lower levels of turnover.
Absteneeism from work has been predicted by low agreeableness (Stomer & Fahr,2013) and low conscientiousness (Judge, Martoccio & Thoesen, 1997)
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