ARE WOMEN MORE RISK AVERSE?

Economic Inquiry - Tập 36 Số 4 - Trang 620-630 - 1998
Nancy Jianakoplos1, Alexandra Bernasek2,3
1Associate Professor, Colorado State University, Fort Collins, Phone 1–970-491-6537
2*Earlier versions of this paper were presented at Western Economic Association International conferences in 1994 and 1996. The authors wish to thank Paul L. Menchik and Robert Denk for providing data in a timely manner. We also wish to acknowledge helpful comments and material from L. S. Fan, Judy Gordon, Jileen Westbrook, the editor, and three anonymous referees.
3Associate Professor, Colorado State University, Fort Collins, Phone 1–970-491-6856

Tóm tắt

We find that single women exhibit relatively more risk aversion in financial decision making than single men. Using U.S. sample data, we examine household holdings of risky assets to determine whether there are gender differences in financial risk taking. As wealth increases, the proportion of wealth held as risky assets is estimated to increase by a smaller amount for single women than for single men. Gender differences in financial risk taking are also influenced by age, race, and number of children. Greater financial risk aversion may provide an explanation for women's lower levels of wealth compared with men's. (JEL J16, D81, G11)

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Economic Inquiry

Tập 36 Số 4

620-630

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