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Do Risk and Time Preferences Have Biological Roots?

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  • Andreas C. Drichoutis

    () (Department of Agricultural Economics and Rural Development, Agricultural University of Athens, Athens, Greece, 11855, Iera Odos 75;)

  • Rodolfo M. Nayga, Jr.

    () (Department of Agricultural Economics and Agribusiness, 217 Agriculture Building University of Arkansas, Fayetteville, AR 72701, USA; and Department of Food and Resource Economics, Korea University, Seoul, South Korea; and Norwegian Agricultural Economics Research Institute, Oslo, Norway;)

Abstract

We revisit the claims about the biological underpinnings of economic behavior by specifically exploring if observed gender differences in risk/time preferences can be explained by natural fluctuations in progesterone/estradiol levels during the menstrual cycle and by prenatal exposure to testosterone and estrogen levels. We find no effect of the menstrual cycle (and thereby, of associated fluctuations in progesterone and estradiol levels) or of the digit ratio on either risk or time preferences.

Suggested Citation

  • Andreas C. Drichoutis & Rodolfo M. Nayga, Jr., 2015. "Do Risk and Time Preferences Have Biological Roots?," Southern Economic Journal, Southern Economic Association, vol. 82(1), pages 235-256, July.
  • Handle: RePEc:sej:ancoec:v:82:1:y:2015:p:235-256
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    File URL: http://dx.doi.org/10.4284/0038-4038-2013.246
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Judit Alonso & Roberto Di Paolo & Giovanni Ponti & Marcello Sartarelli, 2017. "Some (Mis)facts about 2D:4D, Preferences and Personality," Working Papers. Serie AD 2017-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    2. Zhixin Xie & Lionel Page & Ben Hardy, 2016. "Investigating gender differences under time pressure in financial risk taking," QuBE Working Papers 045, QUT Business School.
    3. Pablo Brañas-Garza & Jaromír Kovárík, 2013. "Digit Ratios and Social Preferences: A Comment on Buser (2012)," Working Papers 13-31, Chapman University, Economic Science Institute.
    4. Cobb-Clark, Deborah A., 2016. "Biology and Gender in the Labor Market," IZA Discussion Papers 10386, Institute for the Study of Labor (IZA).

    More about this item

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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