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Gender differences in risk aversion and ambiguity aversion

Author

Listed:
  • Borghans, L.

    (Macro, International & Labour Economics)

  • Golsteyn, B.H.H.

    (Macro, International & Labour Economics)

  • Heckman, J.

    (Externe publicaties SBE)

  • Meijers, H.H.M.

    (Mt Economic Research Inst on Innov/Techn, Macro, International & Labour Economics)

Abstract

This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing literature relating economic preference parameters to psychological measures by asking whether variations in preference parameters among persons, and in particular across genders, can be accounted for by differences in personality traits and traits of cognition. Women are more risk-averse than men. Over an initial range, women require no further compensation for the introduction of ambiguity but men do. At greater levels of ambiguity, women have the same marginal distaste for increased ambiguity as men. Psychological variables account for some of the interpersonal variation in risk aversion. They explain none of the differences in ambiguity. (JEL: J24, D03, D80) (c) 2009 by the European Economic Association.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Borghans, L. & Golsteyn, B.H.H. & Heckman, J. & Meijers, H.H.M., 2009. "Gender differences in risk aversion and ambiguity aversion," ROA Research Memorandum 005, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  • Handle: RePEc:unm:umaror:2009005
    DOI: 10.26481/umaror.2009005
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    References listed on IDEAS

    as
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    More about this item

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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