Comparing the Traits of Stock Market Investors and Gamblers
Abstract (Janice W. Jadlow; John C. Mowen)
The goal of this research is to investigate to what extent gamblers and stock investors share similar characteristics. Using survey data, a hierarchical model of personality is employed to compare the traits of gamblers and investors. The results reveal that gamblers and investors share five trait characteristics and differ on three traits. Cluster analysis supports the proposal that gamblers and investors can be divided into four groups that differ across the personality traits. As a result, divergent communication strategies should be used to influence each group’s propensity to invest and/or to gamble.