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Gender differences in risk aversion and patience: evidence from a representative survey

Author

Listed:
  • Daniel Horn

    (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences and Eötvös Loránd University)

  • Hubert Janos Kiss

    (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences and Eötvös Loránd University)

Abstract

We measure risk aversion and patience in a non-incentivized way using a representative sample of the Hungarian adult population. We elicit risk aversion with a task similar to Gneezy and Potters (1997)'s investment game and find that females risk about 8.5 % less than males when we do not consider any additional controls. However, even when we add extensive controls (related to demography, region, family, education, employment, income and wealth) the difference decreases only slightly and remains significant at conventional levels. We carry out the same exercise for patience and document no significant gender differences in any specification.

Suggested Citation

  • Daniel Horn & Hubert Janos Kiss, 2019. "Gender differences in risk aversion and patience: evidence from a representative survey," CERS-IE WORKING PAPERS 1901, Institute of Economics, Centre for Economic and Regional Studies.
    • Handle: RePEc:has:discpr:1901
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    Cited by:

    1. Thomas Meissner & Xavier Gassmann & Corinne Faure & Joachim Schleich, 2023. "Individual characteristics associated with risk and time preferences: A multi country representative survey," Journal of Risk and Uncertainty, Springer, vol. 66(1), pages 77-107, February.

    More about this item

    Keywords

    gender differences; patience; representative survey; risk attitude;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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