This paper reviews the literature on gender differences in economic experiments. In the three main sections, we identify robust differences in risk preferences, social (other-regarding) preferences, and competitive preferences. We also speculate on the source of these differences, as well as on their implications. Our hope is that this article will serve as a resource for those seeking to understand gender differences and to use as a starting point to illuminate the debate on gender-specific outcomes in the labor and goods markets.

Gender is rarely included as a factor in economic models. However, recent work in experimental economics, as well as in psychology and political science, suggests that gender is an important determinant of economic and strategic behavior. Gender differences in bargaining are examined using the trust game introduced by Joyce Berg et al. (1995). In this two-person game, the proposer is given a choice of sending some, all, or none of his or her $10 experimental payment to an anonymous partner, the responder. For US subjects, Berg et al. found that 30 of 32 proposers deviated from economic equilibrium and sent some money to their partners. In sending money, proposers are trusting that their partners will return some money to them. In addition, 24 out of 32 of responders who received money returned some. Gender differences in this game are discussed.