Critics argue that there are limitations to the scope of Big Five as an explanatory or predictive theory. It is argued that the Big Five does not explain all of human personality.
If people claim that it is an all encompassing model, then that would be a serious criticism. I don't actually know if researchers claim that, but it seems unlikely to me.
The methodology used to identify the dimensional structure of personality traits, factor analysis, is often challenged for not having a universally-recognized basis for choosing among solutions with different numbers of factors.
This is a weaker criticism than it seems. It stems from using classical stats. Latent factor (such as FA) models are less confusing from a Bayesian point of view. The particular indeterminacy they are talking about disappears when you specify a model and prior more clearly and try to update in a principled manner. A better criticism would be that the results of personality models might be sensitive to model assumptions. However, that sensitivity is an empirical matter and isn't established by referencing the indeterminacy of FA. Another good criticism of Big Five research might be that factor analysis is not a good tool because it could be hard to figure out how sensitive your results are to the particular analysis.
Another frequent criticism is that the Big Five is not theory-driven. It is merely a data-driven investigation of certain descriptors that tend to cluster together under factor analysis.
This doesn't seems like a criticism to me.
What I'd like to know, primarily, is whether the Big Five traits correlate with anything other than answers to questionnaire items: in particular, actual behavior.
Pointer to studies appreciated; Google hasn't turned up much. Some studies of job performance have C having the kind of influence you'd expect, then there's things like this.
Evolutionary psychologist Geoffrey Miller recently published Spent: Sex, Evolution, and Consumer Behavior, a book on signaling, psychology, and consumerism. It's very up LW's alley - it reads almost as if Robin Hanson had written a book. (Actually, Hanson has never published a book, has he? Has anyone ever seen them in the same place? Hm...)
Sam Synder has written an overview/summary of the book, which I can attest hits many of the interesting points. (I would also praise the pervasive humor, which kept it readable and furnish many good examples of the 'reversal test', and the exercises at the end of the book.)
Some of the most interesting chapters to me were the ones dealing with Openness, which one will remember was recently shown may be changeable by psychedelics - possibly the first such tweakable member of the Big Five, leading to the suggestion that it may be worth considering changing it. Hold this thought.
First, Miller discusses the signaling of Openness (starting on page 108 of the PDF, logical page 207):
Why is Openness negative at its extreme? (Miller has remarked before this in Spent that despite what one might think, one of the other 6 psychological traits he covers, IQ, essentially has no bad amount to have - you have to be in the top percentile before IQ starts being a potential negative, and much marketing is covertly appealing to people's desires to look smart.) On the potential biological negatives of novelty-seeking:
Recent research shows something very curious: group Openness inversely correlates with parasite load, even after controlling for all the obvious confounds like health and longevity. (I haven't looked up this research yet; he attributes it to "Corey Fincher and Randy Thornhill at University of New Mexico, and Mark Schaller and Damian Murray at University of British Columbia".)
Incidentally, a good deal of LW's userbase could be described as 'young adults'; and it does seem relatively rare for old people to become transhumanists, as opposed to young or very young people. The next step, some anthropological observations which certainly look as if they are costly signalling something:
The final step - applying this idea to us:
The weak correlation with IQ has the troubling implication - what happens when you are highly Open but not especially intelligent, and you are confronted with memes & products optimized on the free market?
I am a little troubled because as a child I was interested in such alternative things and the Occult as well - I seem to recognize this pattern in myself. My inner Hanson asks me, 'why are you so sure you aren't still mistaken and that you aren't so Open your mind finally fell out?'
A closing link: 'the valley of bad rationality'.