Scandinavian Working Papers in Economics
Working Papers in Economics,
University of Gothenburg, Department of Economics
No 388: Gender and birth-order differences in time and risk preferences and decisions
Elina Lampi () and Katarina Nordblom ()
Additional contact information
Elina Lampi: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Katarina Nordblom: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Abstract: We study how gender, birth-order and number of siblings are related to stated time and risk preferences and real-life decisions. We use survey data covering about 2,300 individuals and find that time and risk preferences are significantly correlated among women but not among men. We also find that stated time and risk preferences have clear explanatory power for real-life decisions, but in different ways for men and women. Moreover, risk preferences have stronger explanatory power for males than for females, whose decisions are more related to birth order and number of siblings. For example, the often claimed result that first-borns are more likely to have higher education is found among women only, while risk aversion and patience can explain part of men's corresponding choice.
Keywords: risk preferences; time preferences; gender; birth order
27 pages, First version: October 5, 2009. Revised: June 30, 2011.
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