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Gender effects for loss aversion: Yes, no, maybe?

Bouchouicha, R; Deer, L; Eid, AG; McGee, P; Schoch, D; Stojic, H; Ygosse-Battisti, J; (2019) Gender effects for loss aversion: Yes, no, maybe? Journal of Risk and Uncertainty , 59 (2) pp. 171-184. 10.1007/s11166-019-09315-3. Green open access

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Abstract

Gender effects in risk taking have attracted much attention by economists, and remain debated. Loss aversion—the stylized finding that a given loss carries substantially greater weight than a monetarily equivalent gain—is a fundamental driver of risk aversion. We deploy four definitions of loss aversion commonly used in the literature to investigate gender effects. Even though the definitions only differ in subtle ways, we find women to be more loss averse than men according to one definition, while another definition results in no gender differences, and the remaining two definitions point to women being less loss averse than men. Conceptually, these contradictory effects can be organized by systematic measurement error resulting from model mis-specifications relative to the true underlying decision process.

Type: Article
Title: Gender effects for loss aversion: Yes, no, maybe?
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/s11166-019-09315-3
Publisher version: https://doi.org/10.1007/s11166-019-09315-3
Language: English
Additional information: © The Author(s) 2019. This article is licensed under a Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/).
Keywords: Loss aversion, Gender effects, Risk preferences, Prospect theory
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > UCL Queen Square Institute of Neurology
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > UCL Queen Square Institute of Neurology > Imaging Neuroscience
URI: https://discovery.ucl.ac.uk/id/eprint/10089164
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