Complementarity of neuroeconomic model and the Big5 taxonomy

Abstract

The psychological Big5 Taxonomy is an alternative to the Neoclassical paradigm of Bounded Rationality. The neuroeconomic model of decision-making (NeM) roots behavioral science in the brain function. The relations between Big5 and NeM is described in a cross-correlation study ordering the Big5 by risk-willingness where extreme positive respective negative correlation is with Extrovertedness and Neuroticism. Conscientiousness is in the middle of the order. Agreeableness is characterized by a moderate risk-aversion in between Conscientiousness and Neuroticism. Open-mindedness as the fifth profile is a cultural product of upbringing, formal education and life experience integrating the qualities of Extravertedness and Conscientiousness. The Discussion focuses on two training applications. Firstly, how ordering of the Big5 can simplify sensitivity training. Secondly, secular guidance of meditative in-depth-relaxation as reinforcement of the Working Memory