Cognitive Skills, Gender and Risk Preferences

P. Katic
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引用次数: 39

Abstract

In this paper we utilise data from a unique new birth-cohort study to see how the risk preferences of young people are affected by cognitive skills and gender. We find that cognitive ability (measured by the percentile ranking for university entrance at age 18) has no effect on risk preferences measured at age 20. This is in contrast to experimental studies that use IQ measures to proxy cognitive skills. However we do find that gender matters. While young women are significantly more likely than young men to assess themselves as being prepared to take risks, women choose to invest significantly less when they are confronted with a clearly specified investment decision based on hypothetical lottery winnings. This difference between the impact of gender on risk attitudes and the hypothetical lottery investment suggests that impatience and framing affect young women and men differently.
认知技能,性别和风险偏好
在本文中,我们利用一项独特的新出生队列研究的数据来了解年轻人的风险偏好如何受到认知技能和性别的影响。我们发现,认知能力(以18岁时的大学入学百分位排名衡量)对20岁时的风险偏好没有影响。这与使用智商测量来代替认知技能的实验研究形成对比。然而,我们确实发现性别很重要。虽然年轻女性比年轻男性更有可能评估自己是否做好了冒险的准备,但当女性面临基于假设彩票中奖的明确投资决策时,她们选择的投资明显较少。性别对风险态度的影响和假设的彩票投资之间的差异表明,不耐烦和框架对年轻女性和男性的影响是不同的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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