Disparities in Psychological Traits and Income: Race, Ethnicity, and Gender in the U.S

Aurelie Dariel (), John C. Ham (), Nikos Nikiforakis () and Jan Stoop
Additional contact information
Aurelie Dariel: New York University, Abu Dhabi
John C. Ham: New York University, Abu Dhabi
Nikos Nikiforakis: New York University, Abu Dhabi
Jan Stoop: Erasmus University Rotterdam

No 16818, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: There are pronounced racial, ethnic, and gender gaps in income in the U.S. We investigate whether these correspond with differences in competitiveness, risk tolerance, and confidence relative to performance in a large, stratified sample of the U.S. prime-age population. We find substantial differences in all three traits across Black, Hispanic, and White males and females. These traits predict individual income. Competitiveness and risk tolerance help explain the White gender income gap. Competitiveness also affects the Black-White income gap between men. Confidence about one's performance helps explain a substantial and significant portion of all five race-gender income gaps with White men.

Keywords: racial/gender income gaps; overconfidence; competitiveness; risk tolerance (search for similar items in EconPapers)
JEL-codes: C90 D03 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2024-02
New Economics Papers: this item is included in nep-gen, nep-lab and nep-ure
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