Dark personalities and Bitcoin®: The influence of the Dark Tetrad on cryptocurrency attitude and buying intention

Martin, Brett; Chrysochou, Polymeros; Strong, Carolyn; Wang, Di; Yao, Jun

doi:10.1016/j.paid.2021.111453

Cited by 37 publications

(48 citation statements)

References 46 publications

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“…The culturally embedded suspicion and apprehension represent the foundation for distorting reality. The perceived gloom surrounding individuals is feeding their conspiratory mindset (Martin et al, 2022 ) and confirming the worst fears about the rest of the economy. On the other hand, the woes of “outsiders” are not the problems of individuals who embrace a fortress mentality (Banfield, 1967 ).…”

Section: Discussionmentioning

confidence: 94%

The Perception of Economic Growth and the Romanian “Mioritic Syndrome”

et al. 2023

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We evaluate changes in the perception of Romanians about their own economic prosperity and the overall economy during the transition to free markets. We use ten questions from the Life in Transition Survey measuring people’s attitudes and values related to the economic situation, from three successive waves (2006, 2010, and 2016). We first conduct an exploratory factor analysis to identify potential latent constructs within the data. In the second step, we use multi-group confirmatory factor analysis to test whether our measurement is invariant across waves. The results show a relatively stable factorial structure and a relatively complex dynamic. Consistent with previous research, we find a significant disconnect between how individuals perceive the overall economy in contrast to their own well-being, but with a Romanian twist. Most people consider their personal situation is improving; yet, at the same time, they perceive the economy is progressively deteriorating. We contend this perception disconnect is due to a combination of biases, including, but not limited to, availability bias and social contagion. We strongly suspect the culturally embedded lack of social trust, so pervasive in Romania, is also part of the explanation. To our knowledge, this is the first research that systematically investigates the perception of economic development during the transition process in Romania across multiple periods of time. Our findings underscore the challenge this perception disconnects poses to understanding and anticipating public responses to long-term growth strategies and policies. We dub this unique cultural fatalism “the Mioritic Syndrome.”

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Section: Discussionmentioning

confidence: 94%

The Perception of Economic Growth and the Romanian “Mioritic Syndrome”

et al. 2023

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“…The questions for consumer innovativeness were adopted from [42] which measures the concept using a 5-point Likert scale (from 1, completely disagree, to 5, completely agree). The attitude measures were adopted from the study of [43]. The questions that measured cryptocurrency intention came from the study of [44].…”

Section: Methodsmentioning

confidence: 99%

Linking Consumer Innovativeness to the Cryptocurrency Intention: Moderating Effect of the LOHAS (Lifestyle of Health and Sustainability) Lifestyle

Choi¹,

Feinberg²

2022

J. Engg. Res. & Sci.

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Cryptocurrency is gaining worldwide recognition. This research examines the role of personality and psychological factors in consumers' cryptocurrency adoption behavior. 452 samples are collected from U.S consumers and the data are analyzed by PLS-SEM. The findings reveal that consumer innovativeness has a positive influence on the intention to use cryptocurrency and its impact is partially mediated by attitude. The LOHAS lifestyle moderated the influence of consumer innovativeness on the cryptocurrency intention as well as the relation of attitude with the intention. This research provides theoretical and practical implications for the cryptocurrency market.

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“…Since FOMO is a direct predictor of consumers purchase intention of Bitcoins (Martin et al, 2022), we hypothesize that this relationship is also driven by consumers open-mindedness. Thus:…”

Section: The Role Of Openness To Experience and Fomo On Cryptocurrenc...mentioning

confidence: 99%

“…Martin et al (2022) identified the impact of the dark tetrad of personality traits on Bitcoin purchasing intentions controlling for FOMO as a mediator. Our work extends Martin et al's research by identifying the mediating role of FOMO on a generally accepted taxonomy of human personality traits and consumers likelihood of buying cryptocurrency.…”

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confidence: 99%

Is it FOMO or is it ME? The influence of personality traits on cryptocurrency consumption

Anaza,

Upadhyaya,

Bennett

et al. 2023

Psychology and Marketing

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Why do consumers invest in cryptocurrency despite its sharp increases and decreases in value? While it seems rational that such volatility should increase consumers' fear of investment, we posit that the fear of missing out (FOMO) on the possible positive returns negates such. Further, this study explores the impact that consumers personality traits, using the big five model, has on FOMO when predicting consumers purchase intentions of cryptocurrencies. Additionally, while consumer behaviorists theorize that information search is an important aspect of the consumer decision making process, marketers have yet to integrate consumers degree of cryptocurrency knowledge as a conditional factor that influences their cryptocurrency purchase behavior. Grounded in trait and prospect theory, we employ a repeated cross‐sectional sampling design to investigate these relationships in a bear and bull market. An analysis of the data from 444 and 250 respondents suggests that FOMO predicts the likelihood of investing in cryptocurrencies for certain personality traits. The findings of this study are novel as we observe that FOMO is a driving force behind cryptocurrency's consumption for agreeable and neurotic consumers. However, FOMO negatively mediates cryptocurrency investment likelihood for consumers with high openness to experience and conscientiousness in a bear market, but not in a bull market.

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Dark personalities and Bitcoin®: The influence of the Dark Tetrad on cryptocurrency attitude and buying intention

Cited by 37 publications

References 46 publications

The Perception of Economic Growth and the Romanian “Mioritic Syndrome”

The Perception of Economic Growth and the Romanian “Mioritic Syndrome”

Linking Consumer Innovativeness to the Cryptocurrency Intention: Moderating Effect of the LOHAS (Lifestyle of Health and Sustainability) Lifestyle

Is it FOMO or is it ME? The influence of personality traits on cryptocurrency consumption

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