IDEAS home Printed from https://ideas.repec.org/p/udc/wpaper/wp373.html
   My bibliography  Save this paper

Brechas por Género en Aversión al Riesgo

Author

Listed:
  • Jaime Ruiz-Tagle V.
  • Pablo Tapia G.

Abstract

Existe cierta evidencia indicativa que las mujeres serían más aversas al riesgo que los hombres. Esto tiene importantes consecuencias en la toma de decisiones que involucran incertidumbre, tales como las decisiones laborales, financieras y de pensiones. Este artículo analiza las diferencias en aversión al riesgo por género en Chile. En primer lugar se encuentra que la aversión al riesgo tendría un perfil cóncavo de acuerdo a los distintos grupos etarios. Es decir, la aversión al riesgo sería creciente en grupos etarios jóvenes y medios, y luego se estabilizaría en edades mayores. En segundo lugar, se encuentra que las mujeres serían significativamente más aversas al riesgo que los hombres, pero solo en grupos etarios jóvenes y medios. En efecto, los resultados muestran que la brecha en aversión al riesgo tiende a desaparecer en edades próximas a la jubilación. Los resultados anteriores se confirman al controlar por características sociodemográficas, respaldando la robustez de los hallazgos. El perfil cóncavo de la aversión al riesgo podría explicarse porque el grupo etario de mayor edad es más experimentado, tiene más compromisos como el estar casado, tener hijos o generacionalmente es distinto al grupo etario más joven. También se encontró que un mayor ingreso laboral y mayor escolaridad reducen la probabilidad de ser más averso al riesgo.

Suggested Citation

  • Jaime Ruiz-Tagle V. & Pablo Tapia G., 2012. "Brechas por Género en Aversión al Riesgo," Working Papers wp373, University of Chile, Department of Economics.
    • Handle: RePEc:udc:wpaper:wp373
    as

    Download full text from publisher

    File URL: http://www.econ.uchile.cl/uploads/publicacion/c6eb3d8d2451f8aee69c6332a3c60493b1ce66eb.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Yesuf, Mahmud & Bluffstone, Randy, 2007. "Risk aversion in low income countries: Experimental evidence from Ethiopia," IFPRI discussion papers 715, International Food Policy Research Institute (IFPRI).
    2. Kimball, Miles S & Sahm, Claudia R & Shapiro, Matthew D, 2008. "Imputing Risk Tolerance From Survey Responses," Journal of the American Statistical Association, American Statistical Association, vol. 103(483), pages 1028-1038.
    3. Luigi Guiso & Monica Paiella, 2008. "Risk Aversion, Wealth, and Background Risk," Journal of the European Economic Association, MIT Press, vol. 6(6), pages 1109-1150, December.
    4. Belzil, Christian & Leonardi, Marco, 2007. "Can risk aversion explain schooling attainments? Evidence from Italy," Labour Economics, Elsevier, vol. 14(6), pages 957-970, December.
    5. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-630, October.
    6. Gabriel Picone & Frank Sloan & Donald Taylor, 2004. "Effects of Risk and Time Preference and Expected Longevity on Demand for Medical Tests," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 39-53, January.
    7. Bosch-Domenech, Antoni & Silvestre, Joaquim, 1999. "Does risk aversion or attraction depend on income? An experiment," Economics Letters, Elsevier, vol. 65(3), pages 265-273, December.
    8. Maria Paola, 2013. "The Determinants of Risk Aversion: The Role of Intergenerational Transmission," German Economic Review, Verein für Socialpolitik, vol. 14(2), pages 214-234, May.
    9. Anderson, Lisa R. & Mellor, Jennifer M., 2008. "Predicting health behaviors with an experimental measure of risk preference," Journal of Health Economics, Elsevier, vol. 27(5), pages 1260-1274, September.
    10. Brunello, Giorgio, 2002. "Absolute risk aversion and the returns to education," Economics of Education Review, Elsevier, vol. 21(6), pages 635-640, December.
    11. Luis Diaz-Serrano & Donal O'Neill, 2004. "An Empirical Note on the Relationship between Unemployment and Risk-Aversion," Economics Department Working Paper Series n1360804, Department of Economics, National University of Ireland - Maynooth.
    12. Bellante, Don & Green, Carole A., 2004. "Relative risk aversion among the elderly," Review of Financial Economics, Elsevier, vol. 13(3), pages 269-281.
    13. Samuelson, William & Zeckhauser, Richard, 1988. "Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
    14. David A. Love, 2010. "The Effects of Marital Status and Children on Savings and Portfolio Choice," The Review of Financial Studies, Society for Financial Studies, vol. 23(1), pages 385-432, January.
    15. Renate Schubert, 1999. "Financial Decision-Making: Are Women Really More Risk-Averse?," American Economic Review, American Economic Association, vol. 89(2), pages 381-385, May.
    16. Robert B. Barsky & F. Thomas Juster & Miles S. Kimball & Matthew D. Shapiro, 1997. "Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 537-579.
    17. Isaac, R Mark & James, Duncan, 2000. "Just Who Are You Calling Risk Averse?," Journal of Risk and Uncertainty, Springer, vol. 20(2), pages 177-187, March.
    18. Ruiz-Tagle, Jaime & Tapia, Pablo, 2011. "Chile: early retirement, impatience and risk aversion," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    19. James K Hammitt & Kevin Haninger & Nicolas Treich, 2009. "Effects of Health and Longevity on Financial Risk Tolerance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 34(2), pages 117-139, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. García Costa, Laura & García Costa, Beatriz & Gómez Martínez, Raúl, 2021. "Análisis de confianza de las entidades bancarias, desde una perspectiva de género. || Confidence analysis of the banking entities, from a gender perspective," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 31(1), pages 347-362, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. J. François Outreville, 2015. "The Relationship Between Relative Risk Aversion And The Level Of Education: A Survey And Implications For The Demand For Life Insurance," Journal of Economic Surveys, Wiley Blackwell, vol. 29(1), pages 97-111, February.
    2. Armin Falk & Fabian Kosse & Pia Pinger & Hannah Schildberg-Hörisch & Thomas Deckers, 2021. "Socioeconomic Status and Inequalities in Children’s IQ and Economic Preferences," Journal of Political Economy, University of Chicago Press, vol. 129(9), pages 2504-2545.
    3. Lisa Anderson & Jennifer Mellor, 2009. "Are risk preferences stable? Comparing an experimental measure with a validated survey-based measure," Journal of Risk and Uncertainty, Springer, vol. 39(2), pages 137-160, October.
    4. Vetter, Stefan & Heiss, Florian & McFadden, Daniel & Winter, Joachim, 2013. "Risk attitudes and Medicare Part D enrollment decisions," Economics Letters, Elsevier, vol. 119(2), pages 128-132.
    5. J. Francois Outreville, 2014. "Risk Aversion, Risk Behavior, and Demand for Insurance: A Survey," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 37(2), pages 158-186.
    6. Guiso, Luigi & Sodini, Paolo, 2013. "Household Finance: An Emerging Field," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 1397-1532, Elsevier.
    7. Fred Schroyen & Karl Ove Aarbu, 2018. "Attitudes Towards Large Income Risk in Welfare States: An International Comparison," Economica, London School of Economics and Political Science, vol. 85(340), pages 846-872, October.
    8. Miles S. Kimball & Daniel Reck & Fudong Zhang & Fumio Ohtake & Yoshiro Tsutsui, 2024. "Diminishing Marginal Utility Revisited," NBER Working Papers 32077, National Bureau of Economic Research, Inc.
    9. Alessandro Bucciol & Raffaele Miniaci, 2011. "Household Portfolios and Implicit Risk Preference," The Review of Economics and Statistics, MIT Press, vol. 93(4), pages 1235-1250, November.
    10. Guiso, Luigi & Pagel, Michaela, 2004. "The Role of Risk Aversion in Predicting Individual Behaviours," CEPR Discussion Papers 4591, C.E.P.R. Discussion Papers.
    11. Brunette, Marielle & Jacob, Julien, 2019. "Risk aversion, prudence and temperance: An experiment in gain and loss," Research in Economics, Elsevier, vol. 73(2), pages 174-189.
    12. van Rooij, Maarten C.J. & Kool, Clemens J.M. & Prast, Henriette M., 2007. "Risk-return preferences in the pension domain: Are people able to choose?," Journal of Public Economics, Elsevier, vol. 91(3-4), pages 701-722, April.
    13. Menkhoff, Lukas & Sakha, Sahra, 2014. "Multiple-item risk measures," Kiel Working Papers 1980, Kiel Institute for the World Economy (IfW Kiel).
    14. Insoo Cho & Peter F. Orazem & Tanya Rosenblat, 2018. "Are Risk Attitudes Fixed Factors or Fleeting Feelings?," Journal of Labor Research, Springer, vol. 39(2), pages 127-149, June.
    15. Sarah Brown & Aurora Ortiz‐Nuñez & Karl Taylor, 2012. "Parental Risk Attitudes and Children's Academic Test Scores: Evidence from the US P anel S tudy of I ncome D ynamics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(1), pages 47-70, February.
    16. Antoni Bosch & Joaquim Silvestre, 2003. "Do the Wealthy Risk More Money? An Experimental Comparison," Working Papers 10, Barcelona School of Economics.
    17. Joseph G Eisenhauer, 2012. "Measuring Aversion to Health Risks," Journal of Economics and Behavioral Studies, AMH International, vol. 4(2), pages 96-107.
    18. Banerjee, Debosree, 2014. "Ethnicity and Gender Differences in Risk, Ambiguity Attitude," GlobalFood Discussion Papers 180978, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    19. Urvi Neelakantan, 2010. "Estimation And Impact Of Gender Differences In Risk Tolerance," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 228-233, January.
    20. Daniela Bellani & Bruno Arpino, 2021. "Risk aversion and fertility. Evidence from a lottery question in Italy," Econometrics Working Papers Archive 2021_02, Universita' degli Studi di Firenze, Dipartimento di Statistica, Informatica, Applicazioni "G. Parenti".

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:udc:wpaper:wp373. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mohit Karnani (email available below). General contact details of provider: https://edirc.repec.org/data/deuclcl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.