Chapter 113 Men, Women and Risk Aversion: Experimental Evidence

Eckel, Catherine C.; Grossman, Philip J.

doi:10.1016/s1574-0722(07)00113-8

Cited by 883 publications

(541 citation statements)

References 27 publications

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“…In fact, the mean of risk aversion (transformed price) before the Earthquake is 0.738 for men and 0.868 for women. This observation is consistent with the large body of literature that documents that men are less risk averse than women in the vast majority of environments and tasks (for reviews, see Grossman, 2008, andCroson andGneezy, 2009). However, the literature is silent on whether men's risk preference is more "malleable" to the experience of negative events than that of women, and to which direction risk preferences may change.…”

Section: Resultssupporting

confidence: 88%

Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake

Hanaoka

Shigeoka

Watanabe³

2015

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We investigate whether individuals' risk preferences change after experiencing a natural disaster, specifically, the 2011 Great East Japan Earthquake. Exploiting the panels of nationally representative surveys on risk preferences, we find that men who experienced greater intensity of the Earthquake became more risk tolerant after the Earthquake. Furthermore, these men gamble more, which is consistent with the direction of changes in risk preferences. We find no such pattern for women. Finally, the effects on men's risk preferences are persistent even five years after the Earthquake at almost the same magnitude as those shortly after the Earthquake.

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Section: Resultssupporting

confidence: 88%

Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake

Hanaoka

Shigeoka

Watanabe³

2015

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“…The only exemption is the variable gender. In line with the empirically literature (see, for example, Eckel and Grossman, 2008), our male subjects are more risk seeking than women. The results of both regressions support our descriptive analysis.…”

Section: Resultssupporting

confidence: 85%

Biased effects of taxes and subsidies on portfolio choices

2013

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. November 12, 2012 Terms of use: Documents in EconStor may AbstractWe study how taxes and subsidies affect portfolio choices in a laboratory experiment. We find highly significant differences after intervention, even though the net income is identical in all our treatments and thus the decision pattern of investors should be constant. In particular, we observe that the willingness to invest in the risky asset decreases markedly when an income tax has to be paid or when a subsidy is paid. If we combine both a tax and a subsidy, this effect intensifies.

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“…Positive core self evaluations (including high self-efficacy), for example, are positively correlated with accepting more challenging jobs (Judge et al, 2000), better job performance (Judge and Bono, 2001), and an ability to translate early advantage into later economic success (Judge and Hurst, 2007). Moreover, women are employed in safer jobs (DeLeire and Levy, 2001;Grazier and Sloane, 2008) or in jobs with low earnings risk (Bonin et al, 2007), which is consistent with the evidence that they are more risk averse than men (see Eckel and Grossman (2008) for a review). Borghans, ter Weel, and Weinberg (2008) find that workers who were more social as youths choose jobs that involve interpersonal interactions specific to instructing or training people, influencing others, and making speeches or presentations.…”

Section: Introductionsupporting

confidence: 76%

Noncognitive skills, occupational attainment, and relative wages

Cobb‐Clark¹,

Tan²

2011

Labour Economics

168

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This paper examines whether men's and women's noncognitive skills influence their occupational attainment and, if so, whether this contributes to the disparity in their relative wages. We find that noncognitive skills have a substantial effect on the probability of employment in many, though not all, occupations in ways that differ by gender. Consequently, men and women with similar noncognitive skills enter occupations at very different rates. Women, however, have lower wages on average not because they work in different occupations than men do, but rather because they earn less than their male colleagues employed in the same occupation. On balance, women's noncognitive skills give them a slight wage advantage. Finally, we find that accounting for the endogeneity of occupational attainment more than halves the proportion of the overall gender wage gap that is unexplained.

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Chapter 113 Men, Women and Risk Aversion: Experimental Evidence

Cited by 883 publications

References 27 publications

Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake

Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake

Biased effects of taxes and subsidies on portfolio choices

Noncognitive skills, occupational attainment, and relative wages

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