Sex or gender? Expanding the sex-based view by introducing masculinity and femininity as predictors of financial risk taking

Katja Meier-Pesti, Elfriede Penz

Publication: Scientific journalJournal articlepeer-review


Women have proven to be more risk-averse than men in investment decisions in many studies. In Western cultures, risk taking is perceived as a masculine characteristic. We therefore hypothesize that the more people associate themselves with masculine attributes, the more financial risks they tend to take, regardless of biological sex. Study 1 showed that differences between men and women in financial risk taking decreased when identification with masculine attributes remained constant. Femininity, on the other hand, was not related to financial risk taking. In the second study, gender priming on masculinity and femininity affected risk taking of the male sample.
Original languageEnglish
Pages (from-to)180 - 196
JournalJournal of Economic Psychology
Issue number2
Publication statusPublished - 1 Jun 2008

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