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ARE WOMEN MORE RISK AVERSE?
Author(s) -
JIANAKOPLOS NANCY AMMON,
BERNASEK ALEXANDRA
Publication year - 1998
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1998.tb01740.x
Subject(s) - risk aversion (psychology) , economics , financial risk , sample (material) , race (biology) , actuarial science , demographic economics , expected utility hypothesis , financial economics , chemistry , chromatography , botany , biology
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)