Gender Differences in Risk Aversion: Empirical Study from Cypriot Society
Anastasiou, Eleni (2009) Gender Differences in Risk Aversion: Empirical Study from Cypriot Society. [Dissertation (University of Nottingham only)] (Unpublished)
Risk has become uncomfortably ubiquitous and it arrives in a wide variety of “unappetizing flavours” in most of people’s activities and interactions affecting the way they behave and what decisions they make. Several recent studies have found that there is a difference between men’s and women’s risk attitude when they deal with situations which involve risk. Many researchers have concluded that women are more risk averse compare to men and other findings come to disagree with this view. The contradicting results make it difficult to conclude whether men or women reveal a higher degree of risk aversion. This paper surveys the existing literature regarding gender differences and the theory behind decision making under risk. The study is based on a sample collected from the Cypriot society, and examines gender differences in Cyprus by taking into consideration participants’ age, marital status and monthly income as well. Data was collected on questions regarding participants risk perception and risk aversion in hypothetical and real life situations. The final results suggest that there is difference in males and females risk attitude and there were situations were women turn to be more risk averse compare to men. However, it is suggested that there are other factors that can affect individuals’ risk aversion.
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