Gender vs. personality: The role of masculinity in explaining cognitive style

Daria Plotkina, Arvid O.I. Hoffmann, Patrick Roger and Catherine D’hondt
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Daria Plotkina: EM Strasbourg - École de Management de Strasbourg = EM Strasbourg Business School
Arvid O.I. Hoffmann: University of Adelaide
Patrick Roger: University of New Caledonia, UNC - Université de la Nouvelle-Calédonie
Catherine D’hondt: UCL - Université Catholique de Louvain = Catholic University of Louvain

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Abstract: The literature on lottery gambling shows that players do not select numbers randomly, a phenomenon which is called conscious selection. Mainly, players prefer "small" numbers (less than thirty), either because of the existence of small lucky numbers or because they are victims of the so-called birthday-number effect. Because lotto games are parimutuel, such preferences result in poor ticket choices in terms of achieving below average returns. Using data from Belgium, where approximately 10% of the population plays lotto games every week, this paper extends prior literature by documenting the existence of a gender gap in the birthday-number effect, with women displaying a stronger birthday-number effect than men, as well as the nonpersistence of the birthday-number effect (and consecutively of the gender gap) when participants are asked to fill in a second lotto ticket immediately after their first one. The disappearance of the birthday-number effect in sequential choices appears to be driven by response speed, with participants being twice as fast to fill in the second ticket compared to the first one. Moreover, we find that participants who bet on their birthday numbers take significantly more time to complete their ticket. Contrary to prior research, we find that the strength of the birthday-number effect is positively related to deliberative number choices, not intuitive and automatic number choices. Our results are robust to controlling for potential confounding effects including those related to participants' age, education, self-esteem, and superstitious beliefs.

Keywords: Birthday-number effect gender gap conscious selection sequential choices lotteries Conceptualization; Methodology; Formal analysis; Conceptualization; Writingoriginal Conceptualization; Writingreview Conceptualization; Writingreview; Birthday-number effect; gender gap; conscious selection; sequential choices; lotteries Conceptualization (search for similar items in EconPapers)
Date: 2024-12
References: View references in EconPapers View complete reference list from CitEc
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Published in Journal of Behavioral and Experimental Finance, 2024, 44, pp.100995. ⟨10.1016/j.jbef.2024.100995⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04758211

DOI: 10.1016/j.jbef.2024.100995

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