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A Reconsideration of Gender Differences in Risk Attitudes

Author

Listed:
  • Antonio Filippin

    (Institute for the Study of Labor, UNIMI - Università degli Studi di Milano = University of Milan)

  • Paolo Crosetto

    (GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA [2016-2019] - Université Grenoble Alpes [2016-2019])

Abstract

This paper reconsiders the wide agreement that females are more risk averse than males. We survey the existing experimental literature, finding that significance and magnitude of gender differences are task specific. We gather data from 54 replications of the Holt and Laury risk elicitation method, involving about 7,000 subjects. Gender differences appear in less than 10% of the studies and are significant but negligible in magnitude once all the data are pooled. Results are confirmed by structural estimations, which also support a constant relative risk aversion representation of preferences. Gender differences correlate with the presence of a safe option and fixed probabilities in the elicitation method. This paper was accepted by John List, behavioral economics.

Suggested Citation

  • Antonio Filippin & Paolo Crosetto, 2016. "A Reconsideration of Gender Differences in Risk Attitudes," Post-Print hal-01356905, HAL.
  • Handle: RePEc:hal:journl:hal-01356905
    DOI: 10.1287/mnsc.2015.2294
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    3. Paolo Crosetto & Antonio Filippin, 2016. "A theoretical and experimental appraisal of four risk elicitation methods," Experimental Economics, Springer;Economic Science Association, vol. 19(3), pages 613-641, September.
    4. Muriel Niederle, 2014. "Gender," NBER Working Papers 20788, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    gender; meta analysis; risk;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • 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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