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Gender Differences in Risk Aversion and Ambiguity Aversion

Lex Borghans, Bart Golsteyn (), James Heckman and Huub Meijers

No 5, ROA Research Memorandum from Maastricht University, Research Centre for Education and the Labour Market (ROA)

Abstract: This paper demonstrates gender differences in risk aversion and ambiguityaversion. It also contributes to a growing literature relating economic preferenceparameters to psychological measures by asking whether variations in preferenceparameters among persons, and in particular across genders, can be accounted forby differences in personality traits and traits of cognition. Women are more riskaverse than men. Over an initial range, women require no further compensationfor the introduction of ambiguity but men do. At greater levels of ambiguity,women have the same marginal distaste for increased ambiguity as men.Psychological variables account for some of the interpersonal variation in riskaversion. They explain none of the differences in ambiguity.

Keywords: education, training and the labour market (search for similar items in EconPapers)
Date: 2009
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Journal Article: Gender Differences in Risk Aversion and Ambiguity Aversion (2009) Downloads
Working Paper: Gender Differences in Risk Aversion and Ambiguity Aversion (2009) Downloads
Working Paper: Gender Differences in Risk Aversion and Ambiguity Aversion (2009) Downloads
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