Gender and birth-order differences in time and risk preferences and decisions
AbstractWe study how gender, birth-order and number of siblings are related to stated time and risk preferences and real-life decisions. We use survey data covering about 2,300 individuals and find that time and risk preferences are significantly correlated among women but not among men. We also find that stated time and risk preferences have clear explanatory power for real-life decisions, but in different ways for men and women. Moreover, risk preferences have stronger explanatory power for males than for females, whose decisions are more related to birth order and number of siblings. For example, the often claimed result that first-borns are more likely to have higher education is found among women only, while risk aversion and patience can explain part of men's corresponding choice.
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Bibliographic InfoPaper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 388.
Length: 27 pages
Date of creation: 05 Oct 2009
Date of revision: 30 Jun 2011
Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
More information through EDIRC
risk preferences; time preferences; gender; birth order;
Find related papers by JEL classification:
- D10 - Microeconomics - - Household Behavior - - - General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D90 - Microeconomics - - Intertemporal Choice and Growth - - - General
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-17 (All new papers)
- NEP-CBE-2009-10-17 (Cognitive & Behavioural Economics)
- NEP-LAB-2009-10-17 (Labour Economics)
- NEP-MIC-2009-10-17 (Microeconomics)
You can help add them by filling out this form.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Time preferences: a role for birth order effects?
by Kevin Denny in Geary Behaviour Centre on 2009-10-18 13:21:00
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