Schmidt, Ulrich and Friedl, Andreas and Eichenseer, Michael and de Miranda, Katharina Lima (2021) Social comparison and gender differences in financial risk taking. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, 192. pp. 58-72. ISSN 0167-2681, 1879-1751
Full text not available from this repository. (Request a copy)Abstract
The present paper contributes to the controversy regarding gender differences in risk taking by investigating the impact of social comparison. Drawing on previous results from evolutionary biology, we argue that the social ranking is more important for men than for women, i.e. men (women) should focus more on relative (absolute) income. We develop a corresponding model of decision making under risk which predicts that risk taking is higher (lower) for positively (negatively) correlated risks than for uncorrelated risks and that this effect is stronger for men than for women. These predictions are confirmed by our first experiment. Building upon the first experiment, we show in a second experiment that we can make gender differences to appear or disappear by changing the social context in a systematic way. We conclude that social comparison and the correlation of risks may play an important role for the occurrence of gender differences in risk taking. (c) 2021 Elsevier B.V. All rights reserved.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | DECISION-MAKING; LOSS AVERSION; PROSPECT-THEORY; CHOICE; ATTITUDES; WOMEN; Risk taking; Gender differences; Correlation of risks; Social reference point |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Internationale und Monetäre Ökonomik (Prof. Dr. Jürgen Jerger) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 01 Sep 2022 08:47 |
| Last Modified: | 01 Sep 2022 08:47 |
| URI: | https://pred.uni-regensburg.de/id/eprint/47166 |
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