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Evaluation and Study of Individual Differences in Banking Sector

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Date added: 17-06-26

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Individual differences is a cornerstone subject area in modern psychology.  In many ways, it is the "classic" psychology that the general public refers to - it refers the psychology of the person - the psychological differences between people and their similarities. Plato stated more than 2000 years ago: No two persons are born exactly alike; but each differs from the other in natural endowments, one being suited for one occupation and the other for another. Individual difference psychology examines how people are similar and how they differ in their thinking, feeling and behaviour.  No two people are alike, yet no two people are unlike.  So, in the study of individual differences we strive to understand ways in which people are psychologically similar and particularly what psychological characteristics vary between people. In the Western psychology approach to individual differences, it is generally assumed that: People vary on a range of psychological attributes It is possible to measure and study these individual differences individual differences are useful for explaining and predicting behaviour and performance We can classify people psychologically, according to their intelligence and personality characteristics, for example, with moderate success, however people are complex and much is still left unexplained.  There are multiple and often conflicting theories and evidence about individual difference psychology. Human beings have been aware of individual differences throughout history, e.g. Gender differences -hunters=men, gatherers=women Intelligence differences - caste, class, education, etc. Personality differences - job specialisations

Early study of individual differences

We have come a long way since Franz Gall invented phrenology in the early 1800s. Phrenology is the study of an individual's bumps on the skull, which supposedly reveal character traits and mental abilities. Phrenology had such vogue that by 1832 there were 29 phrenological societies in Britain and many journals in both the UK and US devoted to the study of phrenology. It was seriously proposed to select Members of Parliament from their "bumps". Some phrenologists even moulded children's heads to accentuate good qualities and minimise bad ones! Despite the theory being incorrect one of its assumptions holds true: the idea that various brain regions have particular functions. Darwin suggested that nature selects successful traits through the survival of the fittest. His cousin, Sir Francis Galton(1822-1911) concluded that he could apply the principle scientifically. Why not measure human traits and then selectively breed superior people? He assumed human traits, everything from height and beauty to intelligence and ability, to personality traits such as even-temperedness, were inherited. Modern psychology has formalised the study of individual differences over the last 100 years.  Individual differences psychology is still a young science and a relatively recent development in modern psychology.  There are still many debates and issues. Current knowledge will change and evolve.  So, have an open-minded, but critical perspective as we go along! Since there are multiple and controversial viewpoints, it is necessary to move beyond reliance on personally preferred viewpoints to also embrace alternative perspectives, particularly those which are utilized in psychological practice and which have solid research support.


Banks in India have succeeded in promoting new services to its customers. The likelihood of current customers is tempted to do business online. Based on extant literature on bank marketing, a questionnaire was designed. Then, in a large-scale survey by means of personal and telephone interviews, data was obtained from bank customers. This paper focuses on the adoption of internet banking by existing banks customers through an investigation of the factors that influence customer's acceptance of internet banking service. The questionnaire was designed from the literature review. It included 29 variables which will help in enhancing the satisfaction of the customer with usage of internet banking in India. Six Indian banks were chosen where the questionnaire was randomly administered to 210 respondents who were also customers of the bank. Out of 210 questionnaires, 196 were completed questionnaires. The banks chosen for the purpose of the study were the ones who have strong retail presence and offer comprehensive range of information to the customer. An exploratory study of the Indian customers in six banks is conducted to identify the factors which lead to adoption of internet banking services with the help of data reduction technique called factor analysis.

Decision Style Measures

Measures of decision style assess the ways in which individuals approach decision making, or thinking more generally (e.g., whether individuals adopt a rigorous analytic style or a gut-based experiential style). Within decision style, we include: Measures of decision style, which were specifically designed to assess individuals' approaches to decision making. Measures of cognitive style, which were designed to assess individuals' approaches to thinking more generally, but have been successfully applied to decision making. Measures of epistemic motivation, which were designed to assess motivated cognition, but have been successfully applied to decision making. Closely related are measures of ambiguity (in)tolerance.


Impact of motivation on employee's performances:

A case study of banking sector


Background and LiteratureÂ

There argues that current knowledge of motivation and performance has been inadequate as there identifies set of variables that may influence bank employees motivation and performance. The model incorporate constructs and research findings from disciplines, the research primary purpose is to provide model or research framework and several hypotheses to help guide empirical research in motivation keeping at Nigeria banking sector.


Motivation serves as essential paradigm in determining professional growth, in attaining performance development among Nigeria's banking employees. There will be theoretical posits verifying motivation approaches applied in Nigerian banks such as bank managers in general. Motivation at work is in popular area of research influenced by modern research stature ( and , 2004) and provided sense of understanding of work motivation,  and   (1975) asserted, the more effort expected by the employees on their jobs, the more motivated they are to become, creating perpetuating cycle of performances due to motivation. The research provides ideal interest to the researcher because in every work setting motivation comes in the picture as it can be recognized and unrecognized in certain ways. In addition, agreeing that motivation incurs strong basis for value integrity as there can be options adhering to real specifications of humanistic attitude that can be seen into self response within the grounds of the work environment that in a way support satisfaction that leads to the fulfillment of basic needs and goals. Ideally, there can be involvement on individual differences as viewed well by means of study investigation that does relate to work motivation and its underlying performance.


Work motivation and performance will be analysed from the perspective of motivation theory as central for the analysis is the relation of banking sector employees with the motivation to exert effort on behalf of performance recognition. There will be presence of theoretical analysis as well as empirical review of several studies of known effects and relationship linking to motivation and performance as it maybe positively related to impacts of motivation on employee performance, effective performance is perceived to be Nigeria's banking sector plan and interest. The methodology seeks to generate empirical data to inspire measures for motivation survey research. The study will adopt qualitative approach, using focus group of a total of 15 participants as to be selected in the HR area of specific banking sector located in Nigeria. Several procedures are applied to carry out rigorous research analysis in forms of survey questionnaire upon presenting research evidences and findings. Alternative methodology can be possible in such case study approach. There is integration of focus group in the study, first group will detect what motivate bank employees, second group will find out how Nigeria's banking sector in HR area are doing with regards to motivation and performance. Reliability and Validity of research evidence to construct desirable evidence has to be in a conformed process wherein research biases and lapses if any will not hamper research goals and objectives. Thus, the integration of literature should look further on certain measures to critically evaluate theories in framework and adhere to several concepts of research that is causal to the core function of the overall study development and its process. The imposing of relevant research studies will then incur and play a crucial role to achieve research spontaneity and vigor for assessment of research standards linking towards the completion of the dissertation plan. The literature study serves as major factor from data analysis is found within effective facets of research and right amount of knowledge.

Individual differences in decision making: Drive and reward responsiveness affect strategic bargaining in economic games


In the growing body of literature on economic decision making, the main focus has typically been on explaining aggregate behavior, with little interest in individual differences despite considerable between-subject variability in decision responses. In this study, we were interested in asking to what degree individual differences in fundamental psychological processes can mediate economic decision-making behavior.


Specifically, we studied a personality dimension that may influence economic decision-making, the Behavioral Activation System, (BAS) which is composed of three components: Reward Responsiveness, Drive, and Fun Seeking. In order to assess economic decision making, we utilized two commonly-used tasks, the Ultimatum Game and Dictator Game. Individual differences in BAS were measured by completion of the BIS/BAS Scales, and correlations between the BAS scales and monetary offers made in the two tasks were computed.


We found that higher scores on BAS Drive and on BAS Reward Responsiveness were associated with a pattern of higher offers on the Ultimatum Game, lower offers on the Dictator Game, and a correspondingly larger discrepancy between Ultimatum Game and Dictator Game offers.


These findings are consistent with an interpretation that high scores on Drive and Reward Responsiveness are associated with a strategy that first seeks to maximize the likelihood of reward, and then to maximize the amount of reward. More generally, these results suggest that there are additional factors other than empathy, fairness and selfishness that contribute to strategic decision-making.
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