Salience, Risky Choices and Gender

Alison Booth, Patrick Nolen

    Research output: Contribution to journalArticle

    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.
    Original languageEnglish
    Pages (from-to)517-520
    JournalEconomics Letters
    Volume117
    Issue number2
    DOIs
    Publication statusPublished - 2012

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