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Follow the gaze: How social attention shapes gendered trading choices

Author

Listed:
  • Yang, Xiaolan
  • Fang, Xiaotong
  • Gao, Mei
  • Ackert, Lucy F.
  • Qi, Li

Abstract

We explore how visual attention differentially impacts the trading behavior of men and women. In the laboratory, eye-tracking technology measures information gaze during a sequential trading game in which participants are asked to buy or sell an asset. Before making a decision, traders receive information on the trading decisions of other participants (others' decisions) and the redemption value of the asset (private information). Research documents that women, compared to men, pay more attention to social cues. In this study, women are more attention-driven when making financial decisions, as compared to men. We conclude that attentional priority is a cognitive mechanism that can account for the increased tendency of women, compared to men, to follow the social cues of others with disparate information and tournament incentives.

Suggested Citation

  • Yang, Xiaolan & Fang, Xiaotong & Gao, Mei & Ackert, Lucy F. & Qi, Li, 2024. "Follow the gaze: How social attention shapes gendered trading choices," China Economic Review, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:chieco:v:88:y:2024:i:c:s1043951x24001901
    DOI: 10.1016/j.chieco.2024.102301
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    More about this item

    Keywords

    Gender; Herd behavior; Visual attention; Social influences;
    All these keywords.

    JEL classification:

    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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