Individual differences in Dark Triad Traits and risky financial choices

The presented studies test whether Dark Triad Traits (psychopathy, Machiavellianism and narcissism) predict the propensity for financial risk-taking. We hypothesized that narcissism and psychopathy will be positively linked to the propensity to take financial risks. Three well-powered studies (N-1 = 950, N-2 = 1027, N-3 = 1132) were conducted among working adults. Study 1 focused on a general tendency to take financial risks. The second study concerned the propensity to take investment risks and the third focused on gambling. The results indicate that narcissism explained the general propensity to take financial risks, the propensity to take investment risks and gambling risks, regardless of whether the reward was a substantial gain or lack of financial loss. The second important trait was psychopathy. It allowed the propensity to take general financial risks, investment risks, and gambling risks (but only in order to avoid loss) to be predicted. Machiavellianism was not related to any aspect of financial risk-taking that we investigated.