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Attitudes towards Economic Risk and the Gender Pay Gap

Author

Listed:
  • Le, Anh T.

    (Curtin University)

  • Miller, Paul W.

    (Curtin University)

  • Slutske, Wendy S.

    (University of Missouri-Columbia)

  • Martin, Nicholas G.

    (Queensland Institute of Medical Research)

Abstract

This paper examines the links between gender differences in attitudes towards economic risk and the gender pay gap. Consistent with the literature on the socio-economic determinants of attitudes towards economic risk, it shows that females are much more risk averse than males. It then extends this research to show that workers with more favorable attitudes towards risk are associated with higher earnings, and that gender differences in attitudes towards economic risk can account for a small, though important, part of the standardized gender pay gap.

Suggested Citation

  • Le, Anh T. & Miller, Paul W. & Slutske, Wendy S. & Martin, Nicholas G., 2010. "Attitudes towards Economic Risk and the Gender Pay Gap," IZA Discussion Papers 5393, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp5393
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    Cited by:

    1. Marcela V. Parada‐Contzen, 2019. "The Value of a Statistical Life for Risk‐Averse and Risk‐Seeking Individuals," Risk Analysis, John Wiley & Sons, vol. 39(11), pages 2369-2390, November.
    2. Jaanika Meriküll & Pille Mõtsmees, 2017. "Do you get what you ask? The gender gap in desired and realised wages," International Journal of Manpower, Emerald Group Publishing Limited, vol. 38(6), pages 893-908, September.
    3. Uwe Jirjahn, 2011. "Gender, Worker Representation and the Profitability of Firms in Germany," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 8(2), pages 281-298, December.
    4. Bernd Frick, 2011. "Gender Differences in Competitive Orientations: Empirical Evidence from Ultramarathon Running," Journal of Sports Economics, , vol. 12(3), pages 317-340, June.
    5. Jetter Michael & Walker Jay K., 2020. "Gender Differences in Performance and Risk-taking among Children, Teenagers, and College Students: Evidence from Jeopardy!," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 20(2), pages 1-24, April.
    6. Fouarge, Didier & Kriechel, Ben & Dohmen, Thomas, 2014. "Occupational sorting of school graduates: The role of economic preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 106(C), pages 335-351.
    7. Marcela PARADA‐CONTZEN, 2023. "Gender, family status and health characteristics: Understanding retirement inequalities in the Chilean pension model," International Labour Review, International Labour Organization, vol. 162(2), pages 271-303, June.
    8. Muhammad Ryan SANJAYA, 2013. "Shocks, Physical Characteristics, and Risk Taking Behaviour," Asian Journal of Empirical Research, Asian Economic and Social Society, vol. 3(9), pages 1081-1105, September.
    9. Edin, Per-Anders & Selin, Håkan, 2022. "Financial Risk-Taking and the Gender Wage Gap," Labour Economics, Elsevier, vol. 75(C).
    10. David Boto-García & Marta Escalonilla, 2022. "University education, mismatched jobs: are there gender differences in the drivers of overeducation?," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 39(3), pages 861-902, October.
    11. Anh T. Le & Paul W. Miller & Wendy S. Slutske & Nicholas G. Martin, 2014. "Attitudes Toward Economic Risk and Occupational Choice," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 53(4), pages 568-592, October.
    12. Rahmah Ismail & Maryam Farhadi & Chung‐Khain Wye, 2017. "Occupational Segregation and Gender Wage Differentials: Evidence from Malaysia," Asian Economic Journal, East Asian Economic Association, vol. 31(4), pages 381-401, December.
    13. Cho, In Soo, 2011. "Do Gender Differences in Risk Preferences Explain Gender Differences in Labor Supply, Earnings or Occupational Choice?," Staff General Research Papers Archive 34651, Iowa State University, Department of Economics.
    14. Hazans, Mihails, 2011. "Informal Workers across Europe: Evidence from 30 Countries," IZA Discussion Papers 5871, Institute of Labor Economics (IZA).
    15. Sanjaya, Muhammad Ryan, 2013. "On the source of risk aversion in Indonesia using micro data 2007," Economics Discussion Papers 2013-33, Kiel Institute for the World Economy (IfW Kiel).
    16. Mundaca, Luis & Luth Richter, Jessika, 2015. "Assessing ‘green energy economy’ stimulus packages: Evidence from the U.S. programs targeting renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 1174-1186.
    17. Maitra, Pushkar & Neelim, Ananta & Tran, Chau, 2021. "The role of risk and negotiation in explaining the gender wage gap," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 1-27.
    18. Carina Cavalcanti & Andreas Leibbrandt, 2024. "Do Positive Externalities Affect Risk Taking? Experimental Evidence on Gender and Group Membership," Monash Economics Working Papers 2024-05, Monash University, Department of Economics.
    19. María Arrazola & José de Hevia, 2016. "The Gender Wage Gap in Offered, Observed, and Reservation Wages for Spain," Feminist Economics, Taylor & Francis Journals, vol. 22(4), pages 101-128, October.
    20. Chadi, Cornelia & Jirjahn, Uwe, 2024. "Does society influence the gender gap in risk attitudes? Evidence from East and West Germany," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 113(C).
    21. Jetter, Michael & Walker, Jay K., 2017. "Gender Differences in Competitiveness and Risk-Taking among Children, Teenagers, and College Students: Evidence from Jeopardy!," IZA Discussion Papers 11201, Institute of Labor Economics (IZA).
    22. Wojciech Przychodzen & Fernando Gómez-Bezares, 2021. "CEO–Employee Pay Gap, Productivity and Value Creation," JRFM, MDPI, vol. 14(5), pages 1-17, April.
    23. Cobb-Clark, Deborah A., 2016. "Biology and Gender in the Labor Market," IZA Discussion Papers 10386, Institute of Labor Economics (IZA).
    24. Dorothée Averkamp & Christian Bredemeier & Falko Juessen, 2024. "Decomposing gender wage gaps: a family economics perspective," Scandinavian Journal of Economics, Wiley Blackwell, vol. 126(1), pages 3-37, January.

    More about this item

    Keywords

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    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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