IDEAS home Printed from https://ideas.repec.org/a/bla/agecon/v38y2008i1p1-7.html
   My bibliography  Save this article

Gender differences in marketing styles

Author

Listed:
  • Lewis T. Cunningham
  • B. Wade Brorsen
  • Kim B. Anderson
  • Emílio Tostão

Abstract

Recent research has found that men trade stocks more frequently than women and receive a lower price as a result. The behavioral finance literature attributes this greater trading activity to men's overconfidence. Women's lack of overconfidence and past agricultural economics research suggest the possibility that women may be better at marketing grain than men. This article uses actual transactions of farmers marketing wheat and also finds that men trade more often than women. Women also sell two weeks later in the marketing year. There is no direct effect of gender on price received, but by storing longer women receive 1.4 cents/bushel less than men, on average. In contrast to the arguments in previous research, we argue that men's greater number of trades can be better explained by men enjoying trading rather than by overconfidence.

Suggested Citation

  • Lewis T. Cunningham & B. Wade Brorsen & Kim B. Anderson & Emílio Tostão, 2008. "Gender differences in marketing styles," Agricultural Economics, International Association of Agricultural Economists, vol. 38(1), pages 1-7, January.
    • Handle: RePEc:bla:agecon:v:38:y:2008:i:1:p:1-7
    DOI: 10.1111/j.1574-0862.2007.00225.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1574-0862.2007.00225.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1574-0862.2007.00225.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Daniel Dorn & Gur Huberman, 2005. "Talk and Action: What Individual Investors Say and What They Do," Review of Finance, Springer, vol. 9(4), pages 437-481, December.
    2. Terrance Odean., 1996. "Volume, Volatility, Price and Profit When All Trader Are Above Average," Research Program in Finance Working Papers RPF-266, University of California at Berkeley.
    3. Pennings, Joost M.E. & Isengildina, Olga & Irwin, Scott H. & Good, Darrel L., 2004. "The Impact of Market Advisory Service Recommendations on Producers' Marketing Decisions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(2), pages 1-20, August.
    4. Carl R. Zulauf & Scott H. Irwin, 1998. "Market Efficiency and Marketing to Enhance Income of Crop Producers," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 20(2), pages 308-331.
    5. Zuniga, Manuel & Coble, Keith H. & Heifner, Richard G., 2001. "Evaluation Of Hedging In The Presence Of Crop Insurance And Government Loan Programs," 2001 Conference, April 23-24, 2001, St. Louis, Missouri 18965, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    6. Richard E. Just & Gordon C. Rausser, 1981. "Commodity Price Forecasting with Large-Scale Econometric Models and the Futures Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(2), pages 197-208.
    7. Kim B. Anderson & B. Wade Brorsen, 2005. "Marketing Performance of Oklahoma Farmers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(5), pages 1265-1270.
    8. Brorsen, B. Wade & Irwin, Scott H., 1996. "Improving the Relevance of Research on Price Forecasting and Marketing Strategies," Agricultural and Resource Economics Review, Cambridge University Press, vol. 25(1), pages 68-75, April.
    9. Norwood, Bailey & Schroeder, Ted C., 2000. "Usefulness of Placement-Weight Data in Forecasting Fed Cattle Marketings and Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 32(1), pages 63-72, April.
    10. Martines-Filho, Joao Gomes & Irwin, Scott H. & Good, Darrel L. & Cabrini, Silvina M. & Stark, Brian G. & Shi, Wei & Webber, Rick L. & Hagedorn, Lewis A. & Williams, Steven L., 2003. "Advisory Service Marketing Profiles For Corn Over 1995-2000," AgMAS Project Research Reports 14776, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    11. James S. Eales & Brian K. Engel & Robert J. Hauser & Sarahelen R. Thompson, 1990. "Grain Price Expectations of Illinois Farmers and Grain Merchandisers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(3), pages 701-708.
    12. McNew, Kevin & Musser, Wesley N., 2002. "Farmer Forward Pricing Behavior: Evidence from Marketing Clubs," Agricultural and Resource Economics Review, Cambridge University Press, vol. 31(2), pages 200-210, October.
    13. Uri Gneezy & Aldo Rustichini, 2004. "Gender and Competition at a Young Age," American Economic Review, American Economic Association, vol. 94(2), pages 377-381, May.
    14. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-630, October.
    15. Kastens, Terry L. & Schroeder, Ted C., 1996. "Efficiency Tests Of July Kansas City Wheat Futures," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(2), pages 1-12, December.
    16. Brad M. Barber & Terrance Odean, 2001. "Boys will be Boys: Gender, Overconfidence, and Common Stock Investment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(1), pages 261-292.
    17. Martin Benirschka & James K. Binkley, 1995. "Optimal Storage and Marketing Over Space and Time," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 512-524.
    18. Paul L. Fackler & Michael J. Livingston, 2002. "Optimal Storage by Crop Producers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 645-659.
    19. William G. Tomek, 1997. "Commodity Futures Prices as Forecasts," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 19(1), pages 23-44.
    20. Sexton, Donald L. & Bowman-Upton, Nancy, 1990. "Female and male entrepreneurs: Psychological characteristics and their role in gender-related discrimination," Journal of Business Venturing, Elsevier, vol. 5(1), pages 29-36, January.
    21. Pennings, Joost M.E. & Isengildina, Olga & Irwin, Scott H. & Good, Darrel L., 2004. "The Impact Of Marketing Advisory Service Recommendations On Producers' Marketing Decisions," 2004 Annual meeting, August 1-4, Denver, CO 20389, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    22. Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economic Reports 34081, United States Department of Agriculture, Economic Research Service.
    23. Uri Gneezy & Muriel Niederle & Aldo Rustichini, 2003. "Performance in Competitive Environments: Gender Differences," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(3), pages 1049-1074.
    24. Martines-Filho, Joao Gomes & Irwin, Scott H. & Good, Darrel L. & Cabrini, Silvina M. & Stark, Brian G. & Shi, Wei & Webber, Rick L. & Hagedorn, Lewis A. & Williams, Steven L., 2003. "Advisory Service Marketing Profiles For Soybeans Over 1995-2000," AgMAS Project Research Reports 14791, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    25. Alexandra Bernasek & Stephanie Shwiff, 2001. "Gender, Risk, and Retirement," Journal of Economic Issues, Taylor & Francis Journals, vol. 35(2), pages 345-356, June.
    26. Simmons, Phil, 2002. "Why do farmers have so little interest in futures markets?," Agricultural Economics, Blackwell, vol. 27(1), pages 1-6, May.
    27. Terrance Odean, 1998. "Volume, Volatility, Price, and Profit When All Traders Are Above Average," Journal of Finance, American Finance Association, vol. 53(6), pages 1887-1934, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Valentina Hartarska & Denis Nadolnyak & Roy Mersland, 2014. "Are Women Better Bankers to the Poor? Evidence from Rural Microfinance Institutions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(5), pages 1291-1306.
    2. Asante, S. B. & Osei-Asare, Y. B. & Kuwornu, J. K. M., 2016. "Smallholder Maize Farmers’ Food Consumption Expenditures in Ghana: The Mediating Role of Commercialization," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 8(3), pages 1-15, September.
    3. Schulze, Birgit, 2011. "Dynamic Markets – Dynamic Relationships: The Example of Grain Marketing in Germany," 2011 International European Forum, February 14-18, 2011, Innsbruck-Igls, Austria 122001, International European Forum on System Dynamics and Innovation in Food Networks.
    4. Mignouna, D.B. & Abdoulaye, T. & Alene, A. & Akinola, A.A. & Manyong, V.M., 2015. "Drivers of Market Participation Decisions among Small-scale Farmers in Yam Growing Areas of Nigeria and Ghana," 2015 Conference, August 9-14, 2015, Milan, Italy 230219, International Association of Agricultural Economists.
    5. Jennifer Ball, 2014. "She works hard for the money: women in Kansas agriculture," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 31(4), pages 593-605, December.
    6. Surendran Arumugam & Ramu Govindasamy & James E. Simon & Emil Wyk & Burhan Ozkan, 2022. "Market outlet choices for African Indigenous Vegetables (AIVs): a socio-economic analysis of farmers in Zambia," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 10(1), pages 1-13, December.
    7. Bola Amoke Awotide & Aziz A. Karimov & Aliou Diagne, 2016. "Agricultural technology adoption, commercialization and smallholder rice farmers’ welfare in rural Nigeria," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 4(1), pages 1-24, December.
    8. Kiprotich Sigei, Geoffrey, 2014. "Determinants of Market Participation Among Small-Scale Pineapple Farmers in Kericho County, Kenya," Research Theses 243452, Collaborative Masters Program in Agricultural and Applied Economics.
    9. Sigei, Geoffrey & Bett, Hillary & Kibet, Lawrence, 2014. "Determinants of Market Participation among Small-scale Pineapple Farmers in Kericho County, Kenya," MPRA Paper 56149, University Library of Munich, Germany.
    10. Alphayo I. Lutta & Oliver V. Wasonga & Lance W. Robinson & Moses M. Nyangito & Jason Sircely, 2021. "Determinants of livestock market participation among pastoral communities of Tana River County, Kenya," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(5), pages 7393-7411, May.
    11. Jennifer A. Ball, 2020. "Women farmers in developed countries: a literature review," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 37(1), pages 147-160, March.
    12. Jagwe, John & Machethe, Charles Lepepeule & Ouma, Emily, 2010. "Transaction costs and smallholder farmers’ participation in banana markets in the Great Lakes Region of Burundi, Rwanda and the Democratic Republic of Congo," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 5(2), pages 1-16, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Good, Darrel L. & Irwin, Scott H. & Martines-Filho, Joao Gomes & Hagedorn, Lewis A., 2005. "The Pricing Performance of Market Advisory Services in Corn and Soybeans over 1995-2003," AgMAS Project Research Reports 14775, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    2. Fellner, Gerlinde & Maciejovsky, Boris, 2007. "Risk attitude and market behavior: Evidence from experimental asset markets," Journal of Economic Psychology, Elsevier, vol. 28(3), pages 338-350, June.
    3. Carlos Cueva Herrero & Iñigo Iturbe-Ormaetxe Kortajarene & Giovanni Ponti & Josefa Tomás Lucas, 2016. "The disposition effect: who and when?," Working Papers. Serie AD 2016-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    4. Klumpp, Joni M. & Brorsen, B. Wade & Anderson, Kim B., 2005. "The Impact of Marketing Strategy Information on the Producer's Selling Decision," 2005 Conference, April 18-19, 2005, St. Louis, Missouri 19036, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    5. Salem, Razan, 2019. "Examining the investment behavior of Arab women in the stock market," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 151-160.
    6. Carlos Cueva Herrero & Iñigo Iturbe-Ormaetxe Kortajarene & Giovanni Ponti & Josefa Tomás Lucas, 2017. "Boys will (still) be boys: Gender differences in trading activity are not due to differences in confidence," Working Papers. Serie AD 2017-06, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    7. Vandegrift, Donald & Yavas, Abdullah, 2009. "Men, women, and competition: An experimental test of behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 554-570, October.
    8. Joni M. Klumpp & B. Wade Brorsen & Kim B. Anderson, 2008. "Market Advisory Service Recommendations and Wheat Producers' Selling Decisions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 56(1), pages 117-128, March.
    9. Cueva, Carlos & Iturbe-Ormaetxe, Iñigo & Ponti, Giovanni & Tomás, Josefa, 2019. "Boys will still be boys: Gender differences in trading activity are not due to differences in (over)confidence," Journal of Economic Behavior & Organization, Elsevier, vol. 160(C), pages 100-120.
    10. Irwin, Scott H. & Good, Darrel L. & Martines-Filho, Joao Gomes & Batts, Ryan M., 2006. "The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2004," AgMAS Project Research Reports 37513, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    11. Marie-Claire Villeval & Nabanita Datta Gupta & Anders Poulsen, 2005. "Male and Female Competitive Behavior - Experimental Evidence," Working Papers 0512, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    12. Alison L. Booth & Patrick Nolen, 2012. "Gender differences in risk behaviour: does nurture matter?," Economic Journal, Royal Economic Society, vol. 122(558), pages 56-78, February.
    13. Silvina M. Cabrini & Scott H. Irwin & Darrel L. Good, 2007. "Style and Performance of Agricultural Market Advisory Services," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(3), pages 607-623.
    14. Czibor, Eszter & Claussen, Jörg & van Praag, Mirjam, 2019. "Women in a men’s world: Risk taking in an online card game community," Journal of Economic Behavior & Organization, Elsevier, vol. 158(C), pages 62-89.
    15. Daniela Beckmann & Lukas Menkhoff, 2008. "Will Women Be Women? Analyzing the Gender Difference among Financial Experts," Kyklos, Wiley Blackwell, vol. 61(3), pages 364-384, August.
    16. Nosic, Alen & Weber, Martin, 2007. "Determinants of Risk Taking Behavior: The role of Risk Attitudes, Risk Perceptions and Beliefs," Sonderforschungsbereich 504 Publications 07-56, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    17. Glaser, Markus & Weber, Martin, 2009. "Which past returns affect trading volume?," Journal of Financial Markets, Elsevier, vol. 12(1), pages 1-31, February.
    18. Sanjukta Brahma & Agyenim Boateng & Sardar Ahmad, 2023. "Board overconfidence and M&A performance: evidence from the UK," Review of Quantitative Finance and Accounting, Springer, vol. 60(4), pages 1363-1391, May.
    19. Merkle, Christoph, 2018. "The curious case of negative volatility," Journal of Financial Markets, Elsevier, vol. 40(C), pages 92-108.
    20. Merkle, Christoph & Weber, Martin, 2014. "Do investors put their money where their mouth is? Stock market expectations and investing behavior," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 372-386.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:agecon:v:38:y:2008:i:1:p:1-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/iaaeeea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.