Do Women Panic More Than Men? An Experimental Study on Financial Decision

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

No 1406, CERS-IE WORKING PAPERS from Institute of Economics, Centre for Economic and Regional Studies

Abstract: We report experimental evidence on gender differences in financial decision that involves three depositors choosing between waiting or withdrawing their money from a common bank. We find that the position in the line, the fact of being observed and the observed decisions are key determinants to explain subjects’ behavior. Although both men and women value being observed, it has a greater effect on women’s decisions. Observing a withdrawal increases the likelihood of withdrawal but women and men do not react differently to what is observed, so they are equally likely to panic if a bank run is already underway. 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)
Pages: 29 pages
Date: 2014-02
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)

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Related works:
Journal Article: Do women panic more than men? An experimental study of financial decisions (2014)
Working Paper: Do Women Panic More Than Men? An Experimental Study on Financial Decision (2014)
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