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Articles 1 - 9 of 9
Full-Text Articles in Behavioral Economics
Are Women Really More Risk-Averse Than Men? A Re-Analysis Of The Literature Using Expanded Methods, Julie Nelson
Are Women Really More Risk-Averse Than Men? A Re-Analysis Of The Literature Using Expanded Methods, Julie Nelson
Julie A. Nelson
While a substantial literature in economics and finance has concluded that “women are more risk averse than men,” this conclusion merits investigation. After briefly clarifying the difference between making generalizations about groups, on the one hand, and making valid inferences from samples, on the other, this essay suggests improvements to how economists communicate our research results. Supplementing findings of statistical significance with quantitative measures of both substantive difference (Cohen's d, a measure in common use in non-‐Economics literatures) and of substantive overlap (the Index of Similarity, newly proposed here) adds important nuance to the discussion of sex differences. These measures …
Not-So-Strong Evidence For Gender Differences In Risk, Julie Nelson
Not-So-Strong Evidence For Gender Differences In Risk, Julie Nelson
Julie A. Nelson
In their article "Strong Evidence for Gender Differences in Risk Taking," Gary Charness and Uri Gneezy (2012) review a number of experimental studies regarding investments in risky assets, and claim that these yield strong evidence that females are more risk averse than males. This study replicates and extends their article, demonstrating that its methods are highly problematic. While the methods used would be appropriate for categorical, individual-‐level differences, the data reviewed are not consistent with such a model. Instead, modest differences (at most) exist only at aggregate levels, such as group means. The evidence in favor of gender difference is …
The Power Of Stereotyping And Confirmation Bias To Overwhelm Accurate Assessment: The Case Of Economics, Gender, And Risk Aversion, Julie A. Nelson
The Power Of Stereotyping And Confirmation Bias To Overwhelm Accurate Assessment: The Case Of Economics, Gender, And Risk Aversion, Julie A. Nelson
Julie A. Nelson
Behavioral research has revealed how normal human cognitive processes can tend to lead us astray. But do these affect economic researchers, ourselves? This article explores the consequences of stereotyping and confirmation bias using a sample of published articles from the economics literature on gender and risk aversion. The results demonstrate that the supposedly “robust” claim that “women are more risk averse than men” is far less empirically supported than has been claimed. The questions of how these cognitive biases arise and why they have such power are discussed, and methodological practices that may help to attenuate these biases are outlined.
Getting Past 'Rational Man/Emotional Woman': Comments On Research Programs In Happiness Economics And Interpersonal Relations, Julie A. Nelson
Getting Past 'Rational Man/Emotional Woman': Comments On Research Programs In Happiness Economics And Interpersonal Relations, Julie A. Nelson
Julie A. Nelson
Orthodox neoclassical economics portrays reason as far more important than emotion, autonomy as more characteristic of economic life than social connection, and, more generally, things culturally and cognitively associated with masculinity as more central than things associated with femininity. Research from contemporary neuroscience suggests that such biases are related to certain automatic processes in the brain, and feminist scholarship suggests ways of getting beyond them. The “happiness” and “interpersonal relations” economics research programs have made substantial progress in overcoming a number of these biases, bringing into consideration by economists a wide range of phenomena which were previously neglected. Analysis from …
Rationality And Humanity: A View From Feminist Economics, Julie A. Nelson
Rationality And Humanity: A View From Feminist Economics, Julie A. Nelson
Julie A. Nelson
DOES RATIONAL CHOICE THEORY (RCT) HAVE SOMETHING IMPORTANT to contribute to the humanities? Usually the arguments for answering “yes” to this question go something like the following: The application of RCT has proved to be a powerful tool in economics and the social sciences, leading to clear and rigorous insights unattainable from less precise methods. Therefore, by also harnessing this power, the disciplines in the humanities could advance toward becoming more elegant, rational, and forceful in their explorations of human behavior. As an economist, I’d like to address this argument on its home ground. Has the use of RCT advanced …
Teaching Ecological And Feminist Economics In The Principles Course, Julie A. Nelson
Teaching Ecological And Feminist Economics In The Principles Course, Julie A. Nelson
Julie A. Nelson
It can be difficult to incorporate ecological and feminist concerns into introductory courses, when one is also obliged to teach neoclassical analysis. In this essay we briefly describe how one might extend existing “multi-paradigmatic” approaches to feminist and ecological concerns, and then present an new alternative approach that may be more suitable for some students. This “broader questions and bigger toolbox” approach can be applied in both microeconomics and macroeconomics introductory classrooms.
My Tenure War, Julie Nelson
Podcast: Economic Expressions: A Conversation With The Economist Julie Nelson, Julie A. Nelson
Podcast: Economic Expressions: A Conversation With The Economist Julie Nelson, Julie A. Nelson
Julie A. Nelson
No abstract provided.
Economists, Value Judgments, And Climate Change: A View From Feminist Economics, Julie Nelson
Economists, Value Judgments, And Climate Change: A View From Feminist Economics, Julie Nelson
Julie A. Nelson
A number of recent discussions about ethical issues in climate change, as engaged in by economists, have focused on the value of the parameter representing the rate of time preference within models of optimal growth. This essay examines many economists' antipathy to serious discussion of ethical matters, and suggests that the avoidance of questions of intergenerational equity is related to another set of value judgments concerning the quality and objectivity of economic practice. Using insights from feminist philosophy of science and research on high reliability organizations, this essay argues that a more ethically transparent, real-world-oriented, and flexible economic practice would …