Exploring the interface between personality psychology and economics

Abstract

Psychology and economics have recently reconnected themselves in a new area of collaboration as shown by recent studies by Heckman. The aim of this paper is to call for a more comprehensive view of personality as a complex system including several psychological structures. The findings presented attest to the role that both values and self-efficacy beliefs exert with respect to traits, and in concert with them, on academic achievement and prosocial behaviour. The same findings suggest the need of interventions in order to favour the course of action that individuals should take to promote desirable changes. These changes take place mostly within the family and in school where children may find proper models, and experiences conducive to their successful performance. To conclude, it is essential to invest in family and school settings to assure each child the full expression of his/her potential.