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Nice guys finish last: When and why agreeableness is associated with economic hardship

Matz, SC; Gladstone, JJ; Nice guys finish last: When and why agreeableness is associated with economic hardship. Journal of Personality and Social Psychology 10.1037/pspp0000220. (In press). Green open access

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Abstract

Recent research suggests that agreeable individuals experience greater financial hardship than their less agreeable peers. We explore the psychological mechanisms underlying this relationship and provide evidence that it is driven by agreeable individuals considering money to be less important, but not (as previously suggested) by agreeable individuals pursuing more cooperative negotiating styles. Taking an interactionist perspective, we further hypothesize that placing little importance on money – a risk factor for money mismanagement – is more detrimental to the financial health of those agreeable individuals who lack the economic means to compensate for their predisposition. Supporting this proposition, we show that agreeableness is more strongly (and sometimes exclusively) related to financial hardship among low-income individuals. We present evidence from diverse data sources, including two online panels (n1=636, n2=3,155), a nationally-representative survey (n3=4,170), objective bank account data (n4=549), a longitudinal cohort study (n5=2,429), and geographically aggregated insolvency and personality measures (n6=332,951, n7=2,468,897).

Type: Article
Title: Nice guys finish last: When and why agreeableness is associated with economic hardship
Location: United States
Open access status: An open access version is available from UCL Discovery
DOI: 10.1037/pspp0000220
Publisher version: https://doi.org/10.1037/pspp0000220
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Agreeableness, Financial Health, Income, Negotiation style, Money attitudes.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management
URI: https://discovery.ucl.ac.uk/id/eprint/10070462
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