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Gender and birth-order differences in time and risk preferences and decisions

Author

Listed:
  • Lampi, Elina

    (Department of Economics, School of Business, Economics and Law, Göteborg University)

  • Nordblom, Katarina

    (Department of Economics, School of Business, Economics and Law, Göteborg University)

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.

Suggested Citation

  • Lampi, Elina & Nordblom, Katarina, 2009. "Gender and birth-order differences in time and risk preferences and decisions," Working Papers in Economics 388, University of Gothenburg, Department of Economics, revised 30 Jun 2011.
    • Handle: RePEc:hhs:gunwpe:0388
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    File URL: http://hdl.handle.net/2077/21203
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    References listed on IDEAS

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    1. Time preferences: a role for birth order effects?
      by Kevin Denny in Geary Behaviour Centre on 2009-10-18 18:21:00

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    Cited by:

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    2. Lima de Miranda, Katharina, 2019. "Mindfulness, preferences and well-being: Mindfulness predicts adolescents' field behaviour," Kiel Working Papers 2127, Kiel Institute for the World Economy (IfW Kiel).

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    More about this item

    Keywords

    risk preferences; time preferences; gender; birth order;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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