Greed and adolescent financial behavior

T.G. Seuntjens, Niels van de Ven, M. Zeelenberg, Anna van der Schors

Research output: Contribution to journalArticleScientificpeer-review

Abstract

Financial problems in adolescents have increased over the last decades. We investigated if individual differences in greed relate to financial behavior. Greed is an important motive for economic behavior and refers to the tendency to never be satisfied and to always want more. We developed a short version of the Dispositional Greed Scale (Seuntjens, Zeelenberg, Van de Ven, & Breugelmans, 2015), which we then used in a large survey with adolescents (N = 3899). Dispositional greed is associated with them having more income, spending more, saving less often, and having debt more often. Identifying what personality characteristics influence financial behavior at a young age is important, as the financial habits that people learn during adolescence persist in adulthood. We find that greed has both positive effects (having a higher income), but also negative effects with the greedy being less likely to save and being more likely to have a debt.
Original languageEnglish
Pages (from-to)1-12
JournalJournal of Economic Psychology
Volume57
DOIs
Publication statusPublished - Dec 2016

Fingerprint

Adolescent Behavior
indebtedness
adolescent
income
economic behavior
adulthood
adolescence
habits
personality
Individuality
Habits
Greed
Financial behavior

Keywords

  • Greed
  • Dispositional Greed Scale
  • Adolescents
  • Financial Behavior
  • Debt

Cite this

Seuntjens, T.G. ; van de Ven, Niels ; Zeelenberg, M. ; van der Schors, Anna. / Greed and adolescent financial behavior. In: Journal of Economic Psychology. 2016 ; Vol. 57. pp. 1-12.
@article{2cd99694b17a4f489566dfb808e66644,
title = "Greed and adolescent financial behavior",
abstract = "Financial problems in adolescents have increased over the last decades. We investigated if individual differences in greed relate to financial behavior. Greed is an important motive for economic behavior and refers to the tendency to never be satisfied and to always want more. We developed a short version of the Dispositional Greed Scale (Seuntjens, Zeelenberg, Van de Ven, & Breugelmans, 2015), which we then used in a large survey with adolescents (N = 3899). Dispositional greed is associated with them having more income, spending more, saving less often, and having debt more often. Identifying what personality characteristics influence financial behavior at a young age is important, as the financial habits that people learn during adolescence persist in adulthood. We find that greed has both positive effects (having a higher income), but also negative effects with the greedy being less likely to save and being more likely to have a debt.",
keywords = "Greed, Dispositional Greed Scale, Adolescents, Financial Behavior, Debt",
author = "T.G. Seuntjens and {van de Ven}, Niels and M. Zeelenberg and {van der Schors}, Anna",
year = "2016",
month = "12",
doi = "10.1016/j.joep.2016.09.002",
language = "English",
volume = "57",
pages = "1--12",
journal = "Journal of Economic Psychology",
issn = "0167-4870",
publisher = "Elsevier Science BV",

}

Greed and adolescent financial behavior. / Seuntjens, T.G.; van de Ven, Niels; Zeelenberg, M.; van der Schors, Anna.

In: Journal of Economic Psychology, Vol. 57, 12.2016, p. 1-12.

Research output: Contribution to journalArticleScientificpeer-review

TY - JOUR

T1 - Greed and adolescent financial behavior

AU - Seuntjens, T.G.

AU - van de Ven, Niels

AU - Zeelenberg, M.

AU - van der Schors, Anna

PY - 2016/12

Y1 - 2016/12

N2 - Financial problems in adolescents have increased over the last decades. We investigated if individual differences in greed relate to financial behavior. Greed is an important motive for economic behavior and refers to the tendency to never be satisfied and to always want more. We developed a short version of the Dispositional Greed Scale (Seuntjens, Zeelenberg, Van de Ven, & Breugelmans, 2015), which we then used in a large survey with adolescents (N = 3899). Dispositional greed is associated with them having more income, spending more, saving less often, and having debt more often. Identifying what personality characteristics influence financial behavior at a young age is important, as the financial habits that people learn during adolescence persist in adulthood. We find that greed has both positive effects (having a higher income), but also negative effects with the greedy being less likely to save and being more likely to have a debt.

AB - Financial problems in adolescents have increased over the last decades. We investigated if individual differences in greed relate to financial behavior. Greed is an important motive for economic behavior and refers to the tendency to never be satisfied and to always want more. We developed a short version of the Dispositional Greed Scale (Seuntjens, Zeelenberg, Van de Ven, & Breugelmans, 2015), which we then used in a large survey with adolescents (N = 3899). Dispositional greed is associated with them having more income, spending more, saving less often, and having debt more often. Identifying what personality characteristics influence financial behavior at a young age is important, as the financial habits that people learn during adolescence persist in adulthood. We find that greed has both positive effects (having a higher income), but also negative effects with the greedy being less likely to save and being more likely to have a debt.

KW - Greed

KW - Dispositional Greed Scale

KW - Adolescents

KW - Financial Behavior

KW - Debt

U2 - 10.1016/j.joep.2016.09.002

DO - 10.1016/j.joep.2016.09.002

M3 - Article

VL - 57

SP - 1

EP - 12

JO - Journal of Economic Psychology

JF - Journal of Economic Psychology

SN - 0167-4870

ER -