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Gender and Marital Differences in Wealth and Investment Decisions: Implications for Researchers, Financial Professionals, and Educators

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Author Info

  • Angela Lyons
  • Urvi Neelakantan
  • Erik Scherpf

Abstract

Wealth is an important source of financial well-being and investment is an important vehicle to accumulate wealth. A large body of literature has focused on analyzing the systematic differences in wealth and investment behavior across gender and marital states. This paper provides a broad overview of the extant research and its implications for researchers, financial professionals, and educators.

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File URL: http://indstate.edu/business/NFI/leadership/papers/2008-WP-02_Lyons_et_al.pdf
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Bibliographic Info

Paper provided by Indiana State University, Scott College of Business, Networks Financial Institute in its series NFI Working Papers with number 2008-WP-02.

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Length: 29 pages
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:nfi:nfiwps:2008-wp-02

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Related research

Keywords: Wealth; investments; risk tolerance; portfolio allocation; household bargaining; financial education;

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References

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  1. Shelly J. Lundberg & Jennifer Ward-Batts, 2000. "Saving for Retirement: Household Bargaining and Household Net Worth," Econometric Society World Congress 2000 Contributed Papers 1414, Econometric Society.
  2. Renate Schubert, 1999. "Financial Decision-Making: Are Women Really More Risk-Averse?," American Economic Review, American Economic Association, vol. 89(2), pages 381-385, May.
  3. Brad M. Barber & Terrance Odean, 2001. "Boys Will Be Boys: Gender, Overconfidence, And Common Stock Investment," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 261-292, February.
  4. Lundberg, Shelly & Startza, Richard & Stillman, Steven, 2003. "The retirement-consumption puzzle: a marital bargaining approach," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 1199-1218, May.
  5. Edward N. Wolff, 1998. "Recent Trends in the Size Distribution of Household Wealth," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 131-150, Summer.
  6. Frederic Vermeulen, 2000. "Collective household models: principles and main results," Public Economics Working Paper Series ces0028, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics.
  7. Lucie Schmidt & Purvi Sevak, 2005. "Gender, Marriage, and Asset Accumulation in the United States," Working Papers wp109, University of Michigan, Michigan Retirement Research Center.
  8. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-30, October.
  9. Carmen Diana Deere & Cheryl Doss, 2006. "The Gender Asset Gap: What Do We Know And Why Does It Matter?," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 1-50.
  10. Powell, Melanie & Ansic, David, 1997. "Gender differences in risk behaviour in financial decision-making: An experimental analysis," Journal of Economic Psychology, Elsevier, vol. 18(6), pages 605-628, November.
  11. Zagorsky, Jay L., 2003. "Husbands' and wives' view of the family finances," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 32(2), pages 127-146, May.
  12. Dobbelsteen, S. & Kooreman, P., 1997. "Financial management, bargaining and efficiency within the household: An empirical analysis," Open Access publications from Tilburg University urn:nbn:nl:ui:12-377569, Tilburg University.
  13. Alan L. Gustman & Olivia S. Mitchell & Andrew A. Samwick & Thomas L. Steinmeier, . "Pension and Social Security Wealth in the Health and Retirement Study," Pension Research Council Working Papers 97-3, Wharton School Pension Research Council, University of Pennsylvania.
  14. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1, June.
  15. Sunden, Annika E & Surette, Brian J, 1998. "Gender Differences in the Allocation of Assets in Retirement Savings Plans," American Economic Review, American Economic Association, vol. 88(2), pages 207-11, May.
  16. Martin Browning, 1994. "The Saving Behaviour of a Two Person Household," Department of Economics Working Papers 1994-01, McMaster University.
  17. Shelly Lundberg & Robert A. Pollak, 1996. "Bargaining and Distribution in Marriage," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 139-158, Fall.
  18. Tansel Yilmazer & Angela Lyons, 2010. "Marriage and the Allocation of Assets in Women’s Defined Contribution Plans," Journal of Family and Economic Issues, Springer, vol. 31(2), pages 121-137, June.
  19. Lundberg, Shelly & Pollak, Robert A, 1994. "Noncooperative Bargaining Models of Marriage," American Economic Review, American Economic Association, vol. 84(2), pages 132-37, May.
  20. Dwyer, Peggy D. & Gilkeson, James H. & List, John A., 2002. "Gender differences in revealed risk taking: evidence from mutual fund investors," Economics Letters, Elsevier, vol. 76(2), pages 151-158, July.
  21. Bajtelsmit, Vickie L. & Bernasek, Alexandra & Jianakoplos, Nancy A., 1999. "Gender differences in defined contribution pension decisions," Financial Services Review, Elsevier, vol. 8(1), pages 1-10.
  22. Haliassos, Michael & Bertaut, Carol C, 1995. "Why Do So Few Hold Stocks?," Economic Journal, Royal Economic Society, vol. 105(432), pages 1110-29, September.
  23. Frances Woolley, 2000. "Control over Money in Marriage," Carleton Economic Papers 00-07, Carleton University, Department of Economics, revised 2003.
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