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Title: Salience, Risky Choices and Gender

Author(s): Alison L Booth and Patrick Nolen

Publication Date: February 2012

Keyword(s): cognitive ability, gender, probability weights and risk-aversion

Programme Area(s): Public Economics

Abstract: Risk theories typically assume individuals make risky choices using probability weights that differ from objective probabilities. Recent theories suggest that probability weights vary depending on which portion of a risky environment is made salient. Using experimental data we show that salience affects young men and women differently, even after controlling for cognitive and non-cognitive skills. Men are significantly more likely than women to switch from a certain to a risky choice once the upside of winning is made salient, even though the expected value of the choice remains the same.

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Bibliographic Reference

Booth, A and Nolen, P. 2012. 'Salience, Risky Choices and Gender'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8868