Do women panic more than men? An experimental study of financial decisions

Hubert Janos Kiss, Ismael Rodriguez-Lara and Alfonso Rosa-García

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2014, vol. 52, issue C, 40-51

Abstract: We report experimental evidence on gender differences in financial decision-making that involves three depositors choosing whether to keep their money deposited or to withdraw it. We find that one's position in the line, the fact that one is being observed and observed decisions are key determinants in explaining the subjects’ behavior. Our main result is that men and women do not react differently to what is observed. However, there are gender differences regarding the effect of being observed: women value the fact of being observed more, while men value the number of subsequent depositors who observe them. Interestingly, risk aversion has no predictive power on depositors’ behavior.

Keywords: Bank run; Gender difference; Strategic uncertainty; Experimental evidence; Coordination (search for similar items in EconPapers)
JEL-codes: C91 D03 D8 G02 J16 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (28)

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Working Paper: Do Women Panic More Than Men? An Experimental Study on Financial Decision (2014)
Working Paper: Do Women Panic More Than Men? An Experimental Study on Financial Decision (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:52:y:2014:i:c:p:40-51

DOI: 10.1016/j.socec.2014.06.003

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