Table 1.
Open in new tab
Means of Personality Traits by Year.
Years with available personality trait data
2004200520062007200820092010201120122013201420152016
Risk preferences (standardised index: mean zero, SD one)
Risk aversion−0.0220.100−0.054−0.321−0.106−0.0200.113−0.0410.0630.1100.124
(0.969)(0.937)(0.957)(0.904)(0.955)(0.920)(0.942)(1.002)(1.017)(1.013)(1.032)
Big Five traits (standardised index: mean zero, SD one)
Openness0.030−0.0710.066
(0.976)(0.990)(0.979)
Conscientiousness0.1480.0380.048
(0.926)(0.961)(0.930)
Extraversion0.034−0.0400.058
(0.991)(1.019)(1.009)
Agreeableness0.038−0.103−0.011
(0.998)(1.014)(0.978)
Neuroticism0.065−0.023−0.085
(1.000)(0.996)(1.006)
Locus of control (standardised index: mean zero, SD one)
Locus of control−0.0110.0230.046
(1.014)(0.998)(0.982)
Internal LoC0.004−0.141−0.027
(0.989)(0.976)(1.003)
External LoC0.005−0.034−0.036
(1.010)(0.989)(0.987)
Age structure (as proportions)
Age |$\in$| [25, 36)0.2570.2550.2460.2340.2320.2300.2280.2250.2480.2280.2490.2330.236
Age |$\in$| [36, 51)0.4920.4930.4850.4820.4760.4740.4600.4510.5180.4340.5030.5020.494
Age |$\in$| [51, 61)0.2510.2520.2690.2830.2920.2970.3120.3240.2340.3380.2490.2660.270
No. of observations13,42612,26112,00912,68411,78110,5679,6699,19916,76810,50117,61515,56515,528
Years with available personality trait data
2004200520062007200820092010201120122013201420152016
Risk preferences (standardised index: mean zero, SD one)
Risk aversion−0.0220.100−0.054−0.321−0.106−0.0200.113−0.0410.0630.1100.124
(0.969)(0.937)(0.957)(0.904)(0.955)(0.920)(0.942)(1.002)(1.017)(1.013)(1.032)
Big Five traits (standardised index: mean zero, SD one)
Openness0.030−0.0710.066
(0.976)(0.990)(0.979)
Conscientiousness0.1480.0380.048
(0.926)(0.961)(0.930)
Extraversion0.034−0.0400.058
(0.991)(1.019)(1.009)
Agreeableness0.038−0.103−0.011
(0.998)(1.014)(0.978)
Neuroticism0.065−0.023−0.085
(1.000)(0.996)(1.006)
Locus of control (standardised index: mean zero, SD one)
Locus of control−0.0110.0230.046
(1.014)(0.998)(0.982)
Internal LoC0.004−0.141−0.027
(0.989)(0.976)(1.003)
External LoC0.005−0.034−0.036
(1.010)(0.989)(0.987)
Age structure (as proportions)
Age |$\in$| [25, 36)0.2570.2550.2460.2340.2320.2300.2280.2250.2480.2280.2490.2330.236
Age |$\in$| [36, 51)0.4920.4930.4850.4820.4760.4740.4600.4510.5180.4340.5030.5020.494
Age |$\in$| [51, 61)0.2510.2520.2690.2830.2920.2970.3120.3240.2340.3380.2490.2660.270
No. of observations13,42612,26112,00912,68411,78110,5679,6699,19916,76810,50117,61515,56515,528

Notes: Personality traits are standardised to have mean zero and SD one for the entire panel data set. Mean and variance for standardisation are estimated using the sample of people aged 17 to 80. We report year-specific means (year-specific standard deviations in parentheses) in all years where the respective measure is available.

Source. Own calculations based on SOEP v33.1 long format.

Table 1.
Open in new tab
Means of Personality Traits by Year.
Years with available personality trait data
2004200520062007200820092010201120122013201420152016
Risk preferences (standardised index: mean zero, SD one)
Risk aversion−0.0220.100−0.054−0.321−0.106−0.0200.113−0.0410.0630.1100.124
(0.969)(0.937)(0.957)(0.904)(0.955)(0.920)(0.942)(1.002)(1.017)(1.013)(1.032)
Big Five traits (standardised index: mean zero, SD one)
Openness0.030−0.0710.066
(0.976)(0.990)(0.979)
Conscientiousness0.1480.0380.048
(0.926)(0.961)(0.930)
Extraversion0.034−0.0400.058
(0.991)(1.019)(1.009)
Agreeableness0.038−0.103−0.011
(0.998)(1.014)(0.978)
Neuroticism0.065−0.023−0.085
(1.000)(0.996)(1.006)
Locus of control (standardised index: mean zero, SD one)
Locus of control−0.0110.0230.046
(1.014)(0.998)(0.982)
Internal LoC0.004−0.141−0.027
(0.989)(0.976)(1.003)
External LoC0.005−0.034−0.036
(1.010)(0.989)(0.987)
Age structure (as proportions)
Age |$\in$| [25, 36)0.2570.2550.2460.2340.2320.2300.2280.2250.2480.2280.2490.2330.236
Age |$\in$| [36, 51)0.4920.4930.4850.4820.4760.4740.4600.4510.5180.4340.5030.5020.494
Age |$\in$| [51, 61)0.2510.2520.2690.2830.2920.2970.3120.3240.2340.3380.2490.2660.270
No. of observations13,42612,26112,00912,68411,78110,5679,6699,19916,76810,50117,61515,56515,528
Years with available personality trait data
2004200520062007200820092010201120122013201420152016
Risk preferences (standardised index: mean zero, SD one)
Risk aversion−0.0220.100−0.054−0.321−0.106−0.0200.113−0.0410.0630.1100.124
(0.969)(0.937)(0.957)(0.904)(0.955)(0.920)(0.942)(1.002)(1.017)(1.013)(1.032)
Big Five traits (standardised index: mean zero, SD one)
Openness0.030−0.0710.066
(0.976)(0.990)(0.979)
Conscientiousness0.1480.0380.048
(0.926)(0.961)(0.930)
Extraversion0.034−0.0400.058
(0.991)(1.019)(1.009)
Agreeableness0.038−0.103−0.011
(0.998)(1.014)(0.978)
Neuroticism0.065−0.023−0.085
(1.000)(0.996)(1.006)
Locus of control (standardised index: mean zero, SD one)
Locus of control−0.0110.0230.046
(1.014)(0.998)(0.982)
Internal LoC0.004−0.141−0.027
(0.989)(0.976)(1.003)
External LoC0.005−0.034−0.036
(1.010)(0.989)(0.987)
Age structure (as proportions)
Age |$\in$| [25, 36)0.2570.2550.2460.2340.2320.2300.2280.2250.2480.2280.2490.2330.236
Age |$\in$| [36, 51)0.4920.4930.4850.4820.4760.4740.4600.4510.5180.4340.5030.5020.494
Age |$\in$| [51, 61)0.2510.2520.2690.2830.2920.2970.3120.3240.2340.3380.2490.2660.270
No. of observations13,42612,26112,00912,68411,78110,5679,6699,19916,76810,50117,61515,56515,528

Notes: Personality traits are standardised to have mean zero and SD one for the entire panel data set. Mean and variance for standardisation are estimated using the sample of people aged 17 to 80. We report year-specific means (year-specific standard deviations in parentheses) in all years where the respective measure is available.

Source. Own calculations based on SOEP v33.1 long format.

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