Pledges of Commitment and Cooperation in Partnerships
In: University of Zurich, Department of Economics, Working Paper No. 201
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In: University of Zurich, Department of Economics, Working Paper No. 201
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Working paper
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In: University of Zurich, Department of Economics, Working Paper No. 268
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In: CEPR Discussion Paper No. DP12428
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In: Journal of risk and uncertainty, Band 59, Heft 2, S. 171-184
ISSN: 1573-0476
AbstractGender effects in risk taking have attracted much attention by economists, and remain debated. Loss aversion—the stylized finding that a given loss carries substantially greater weight than a monetarily equivalent gain—is a fundamental driver of risk aversion. We deploy four definitions of loss aversion commonly used in the literature to investigate gender effects. Even though the definitions only differ in subtle ways, we find women to be more loss averse than men according to one definition, while another definition results in no gender differences, and the remaining two definitions point to women beinglessloss averse than men. Conceptually, these contradictory effects can be organized by systematic measurement error resulting from model mis-specifications relative to the true underlying decision process.