Session Title

Poster Session

Presentation Type

Poster Presentation

Location

Park MGM, Las Vegas, NV

Start Date

24-5-2023 10:30 AM

End Date

24-5-2023 11:15 AM

Disciplines

Personality and Social Contexts

Abstract

Abstract

While an increasing body of literature has noted the preponderance of gambling within various financial markets, limited research has been done on the psychological characteristics of traders, such as levels of self-control (i.e., ability to regulate behaviors and emotions) and dispositional greed (i.e., a strong desire to acquire more). Such characteristics may place traders at a disproportionate risk for trading financial assets more problematically. The proposed study explores the association between self-control and problem financial trading and the role of dispositional greed in mediating their association. Participants who identified as having engaged in financial trading during the past year (N = 504; 67.1% male; M = 39.4 years, SD = 12.6) were recruited via Amazon’s Mechanical Turk to complete an online survey. Results from structural equation modeling revealed that self-control is partially negatively related to problematic financial trading behaviors (B = -.21, p < .001; 95%CI[-.28, -.14]). Furthermore, self-control is related to less problem financial trading behaviors through a decrease in dispositional greed (B = -.05, p = .004; 95%CI[-.08, -.02]). These findings are the among the first to explore the interplay between self-control and dispositional greed. The implications of these findings will be discussed.

Implication

The present study is the first to explore self-control and dispositional greed in relation to problematic financial trading. Findings speak to the unique interplay between self-control and dispositional greed among financial traders, and provide a foundation for further research in this area.

Keywords

Self-control, Dispositional greed, Problem financial trading

Author Bios

Uibin Lee is a doctoral student in Addictive Disorders and Recovery Studies at Texas Tech University. He received his master's degree in Psychology at Handong University, South Korea. He worked as a counselor at Korea Problem gambling agency. He is working as a research assistant with Dr. Devin Mills. His research interest are substance use and behavioral addictions, with the Self-determination framework. His current research projects include exploring motivational processes underlying alcohol use and gambling.

Dr. Devin Mills is an Assistant Professor in the Department of Community, Family, and Addiction Sciences at Texas Tech University. His research explores the development of substance use disorders and behavioral addictions, specifically video gaming and gambling disorder, from social and personality psychological frameworks. In addition to studying the development of addictions, Dr. Mills also researches the factors that promote and sustain individuals' recovery from addiction.

Lauren Lewis is working toward a Ph.D. in Addictive Disorders and Recovery Studies at Texas Tech University under the guidance of Dr. Devin Mills and Dr. Antover Tuliao. She researches long term recovery from a positive psychological perspective, and aims to integrate passion into recovery from substance use. She has a MA in mental health counseling from the University of Northern Colorado and holds a general and addiction counseling license in both Colorado and Texas.

Funding Sources

None

Competing Interests

None

Comments

None

Download

Share

COinS
 
May 24th, 10:30 AM May 24th, 11:15 AM

Exploring psychological characteristic of problem financial trading: The effect of self-control and dispositional greed

Park MGM, Las Vegas, NV

Abstract

While an increasing body of literature has noted the preponderance of gambling within various financial markets, limited research has been done on the psychological characteristics of traders, such as levels of self-control (i.e., ability to regulate behaviors and emotions) and dispositional greed (i.e., a strong desire to acquire more). Such characteristics may place traders at a disproportionate risk for trading financial assets more problematically. The proposed study explores the association between self-control and problem financial trading and the role of dispositional greed in mediating their association. Participants who identified as having engaged in financial trading during the past year (N = 504; 67.1% male; M = 39.4 years, SD = 12.6) were recruited via Amazon’s Mechanical Turk to complete an online survey. Results from structural equation modeling revealed that self-control is partially negatively related to problematic financial trading behaviors (B = -.21, p < .001; 95%CI[-.28, -.14]). Furthermore, self-control is related to less problem financial trading behaviors through a decrease in dispositional greed (B = -.05, p = .004; 95%CI[-.08, -.02]). These findings are the among the first to explore the interplay between self-control and dispositional greed. The implications of these findings will be discussed.

Implication

The present study is the first to explore self-control and dispositional greed in relation to problematic financial trading. Findings speak to the unique interplay between self-control and dispositional greed among financial traders, and provide a foundation for further research in this area.