Gender differences in risk behaviour in financial decision-making: An experimental analysis

doi:10.1016/S0167-4870(97)00026-3

Journal of Economic Psychology

Volume 18, Issue 6, November 1997, Pages 605-628

https://doi.org/10.1016/S0167-4870(97)00026-3 Get rights and content

Abstract

This paper examines whether gender differences in risk propensity and strategy in financial decision-making can be viewed as general traits, or whether they arise because of context factors. It presents the results of two computerised laboratory experiments designed to examine whether differences in risk preference and decision strategies are explained by the framing of tasks and level of task familiarity to subjects. The results show that females are less risk seeking than males irrespective of familiarity and framing, costs or ambiguity. The results also indicate that males and females adopt different strategies in financial decision environments but that these strategies have no significant impact on ability to perform. Because strategies are more easily observed than either risk preference or outcomes in day to day decisions, strategy differences may reinforce stereotypical beliefs that females are less able financial managers.

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Gender differences in risk behaviour in financial decision-making: An experimental analysis

Abstract

Journal of Business Venturing

Real and laboratory gambling, sensation seeking and arousal

British Journal of Psychology

Note: A pilot experimental test of trade hysteresis

Managerial and Decision Economics

Risk taking: A motivational basis for sex differences

Psychological Reports

Comparing women and men: What is being compared and why

American Psychologist Comment

Personality, Motivation and Action

Female entrepreneurs: Are they really any different?

Journal of Small Business Management January

Individual difference in risk taking

Experimental economics: An introduction

Austrian Economic Papers

Management in women-owned enterprises

Journal of Small Business Management October