Publication on female risk preferences

Risk Attitudes, Gender, and Risk Behavior: Evidence from Two Laboratory Experiments, in Debus M., J. Sauermann, M. Tepe: Jahrbuch für Handlungs- und Entscheidungstheorie, Springer VS, Wiesbaden, 145-178

This study analyzes whether self-reported attitudes in economic risk taking predict experimentally revealed risk behavior, and how gender moderates the relationship between both measures. Prior research often finds women reporting higher risk averse attitudes than men and showing more risk averse behavior in observational or experimental studies. This study analyzes observations from 369 students who participated in two laboratory experiments and answered a survey about their risk preferences. The findings show that risk attitudes are not likely to predict risk behavior directly, but being female predicts risk averse behavior robustly. Most interestingly, the analyses show that in the experiments, women behave consistently to their self-reported risk attitudes, but men do not. Methodological and practical implications are briefly discussed.