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Emotional reactions to losing explain gender differences in entering a risky lottery

Author

Listed:
  • Kimmo Eriksson
  • Brent Simpson

Abstract

A gender difference in risk preferences, with women being more averse to risky choices, is a robust experimental finding. Speculating on the sources of this difference, Croson and Gneezy recently pointed to the tendency for women to experience emotions more strongly and suggested that feeling more strongly about negative outcomes would lead to greater risk-aversion. Here we test this hypothesis in an international survey with 424 respondents from India and 416 from US where we ask questions about a hypothetical lottery. In both countries we find that emotions about outcomes are stronger among women, and that this effect partially mediates gender difference in willingness to enter the lottery.

Suggested Citation

  • Kimmo Eriksson & Brent Simpson, 2010. "Emotional reactions to losing explain gender differences in entering a risky lottery," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 5(3), pages 159-163, June.
  • Handle: RePEc:jdm:journl:v:5:y:2010:i:3:p:159-163
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    Citations

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    Cited by:

    1. Julie Nelson, 2015. "Fearing fear: gender and economic discourse," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 14(1), pages 129-139, June.
    2. Tchai Tavor & Sharon Garyn-Tal, 2016. "Further examination of the demographic and social factors affecting risk aversion," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 30(1), pages 95-110, February.
    3. Chandler, Dana & Kapelner, Adam, 2013. "Breaking monotony with meaning: Motivation in crowdsourcing markets," Journal of Economic Behavior & Organization, Elsevier, vol. 90(C), pages 123-133.
    4. Gkritzali, Alkmini & Lampel, Joseph & Wiertz, Caroline, 2016. "Blame it on Hollywood: The influence of films on Paris as product location," Journal of Business Research, Elsevier, vol. 69(7), pages 2363-2370.
    5. Alice Wieland & James Sundali & Markus Kemmelmeier & Rakesh Sarin, 2014. "Gender differences in the endowment effect: Women pay less, but won't accept less," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(6), pages 558-571, November.
    6. Gupta, Vishal K. & Goktan, A. Banu & Gunay, Gonca, 2014. "Gender differences in evaluation of new business opportunity: A stereotype threat perspective," Journal of Business Venturing, Elsevier, vol. 29(2), pages 273-288.
    7. Julie A. Nelson, 2012. "Are Women Really More Risk-Averse than Men?," GDAE Working Papers 12-05, GDAE, Tufts University.
    8. Sarin, Rakesh & Wieland, Alice, 2016. "Risk aversion for decisions under uncertainty: Are there gender differences?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 60(C), pages 1-8.
    9. Tomasz Potocki, 2012. "Cumulative Prospect Theory as a model of economic rationality," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 31.
    10. MichaƂ Wiktor Krawczyk & Joanna Rachubik, 2018. "Verifying the representativeness heuristic: A field experiment with real-life lottery tickets," Working Papers 2018-03, Faculty of Economic Sciences, University of Warsaw.
    11. Jiaxi Peng & Danmin Miao & Wei Xiao, 2013. "Why are gainers more risk seeking," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 8(2), pages 150-160, March.
    12. Wieland, Alice & Sarin, Rakesh, 2012. "Domain specificity of sex differences in competition," Journal of Economic Behavior & Organization, Elsevier, vol. 83(1), pages 151-157.

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