Personality traits and their impact on decision-making risks in auction-based market purchases

Understanding human behaviour is pivotal in financial services marketing, particularly in decision-making processes.Given that individual characteristics can significantly influence participation dynamics in auctions, this research delves into how personality traits shape the risk profile of auction market purchasers.Utilising a mixed-methods approach, we gathered data from 58 qualitative and 282 quantitative respondents through an online questionnaire.This sample comprised Brazilian auction participants, both buyers and sellers.The analysis employed advanced statistical methodologies, highlighting descriptive statistics, hypothesis tests, and factor and regression analyses.We scrutinised five key personality constructs: extraversion, neuroticism, pleasantness, openness to experience, and conscientiousness.This study presents five principal insights, equipping auctioneers, sellers, and buyers with a deeper understanding of auction participant profiles.These findings pave the way for optimised business strategies and demystify auction dynamics.