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Culture, gender and asset prices: Experimental evidence from the U.S. and China

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  • Wang, Jianxin
  • Houser, Daniel
  • Xu, Hui

Abstract

We report data from double-auction experiments in China and the U.S. using groups of exclusively females, exclusively males and mixed gender participants. We find that female groups in China generate price bubbles statistically identical to those produced by exclusively male groups in both China and the U.S., all of which are significantly larger than the bubbles produced by exclusively female groups in the U.S. Our results suggest that gender differences in financial markets may be sensitive to culture.

Suggested Citation

  • Wang, Jianxin & Houser, Daniel & Xu, Hui, 2018. "Culture, gender and asset prices: Experimental evidence from the U.S. and China," Journal of Economic Behavior & Organization, Elsevier, vol. 155(C), pages 253-287.
    • Handle: RePEc:eee:jeborg:v:155:y:2018:i:c:p:253-287
    DOI: 10.1016/j.jebo.2018.09.003
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    More about this item

    Keywords

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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • G01 - Financial Economics - - General - - - Financial Crises
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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