Gender differences in risk aversion and patience: evidence from a representative survey

18 Pages Posted: 14 Jan 2019

See all articles by Daniel Horn

Daniel Horn

Hungarian Academy of Sciences (HAS) - Institute of Economics CERS-HAS (IEHAS)

Hubert Janos Kiss

Eötvös Loránd University; Hungarian Academy of Sciences (HAS) - Institute of Economics CERS-HAS (IEHAS)

Date Written: January 8, 2019

Abstract

We measure risk aversion and patience in a non-incentivized way using a representative sample of the Hungarian adult population. We elicit risk aversion with a task similar to Gneezy and Potters (1997)’s investment game and find that females risk about 8.5 % less than males when we do not consider any additional controls. However, even when we add extensive controls (related to demography, region, family, education, employment, income and wealth) the difference decreases only slightly and remains significant at conventional levels. We carry out the same exercise for patience and document no significant gender differences in any specification.

Keywords: gender differences, patience, representative survey, risk attitude

JEL Classification: D8, J16

Suggested Citation

Horn, Daniel and Kiss, Hubert Janos, Gender differences in risk aversion and patience: evidence from a representative survey (January 8, 2019). Available at SSRN: https://ssrn.com/abstract=3313749 or http://dx.doi.org/10.2139/ssrn.3313749

Daniel Horn

Hungarian Academy of Sciences (HAS) - Institute of Economics CERS-HAS (IEHAS) ( email )

Budaorsi ut 45
Budapest, 1112
Hungary

Hubert Janos Kiss (Contact Author)

Eötvös Loránd University ( email )

Pazmany Peter setany 1A
Budapest, -- H1117
Hungary

Hungarian Academy of Sciences (HAS) - Institute of Economics CERS-HAS (IEHAS) ( email )

Budaorsi ut 45
Budapest, 1112
Hungary

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