A review on personality models and investment decisions

The personality of individuals influences the way one processes the information and take decisions. There are various personality models used to identify an individual’s predisposition. The review paper intends to offer a systematic review of various personality models used in the area of behavioral finance to determine the characteristics of investors. This review paper aims to understand various personality models, their origin, development along the practical application while providing an overview of advantages and critics. In addition, we present an overview of measurement instruments and the adaptation of these models across various fields of study in recent time. This might help future researchers in determining an appropriate personality model suitable for their study.