Gender Differences in Risk Aversion and Ambiguity
AbstractThis paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing literature relating economic preference parameters to psychological measures by asking whether variations in preference parameters among persons, and in particular across genders, can be accounted for by differences in personality traits and traits of cognition. Women are more risk averse than men. Over an initial range, women require no further compensation for the introduction of ambiguity but men do. At greater levels of ambiguity, women have the same marginal distaste for increased ambiguity as men. Psychological variables account for some of the interpersonal variation in risk aversion. They explain none of the differences in ambiguity.
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Bibliographic InfoPaper provided by Geary Institute, University College Dublin in its series Working Papers with number 200903.
Length: 18 pages
Date of creation: 09 Mar 2009
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-22 (All new papers)
- NEP-EXP-2009-03-22 (Experimental Economics)
- NEP-UPT-2009-03-22 (Utility Models & Prospect Theory)
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