We examine gender differences in the response to competitive pressure using data from the most competitive entrance exam—China's Gaokao. Compared to male students, females underperform on the competitive and high-stakes Gaokao, relative to their performance on the low-stakes mock examination. Moreover, women's performance suffers more than men's in response to negative performance shocks in an earlier exam on the same day. These effects are more pronounced for subgroups of students where the stakes matter more. Overall, these findings appear to be best explained by women's lower tolerance for pressure and weaker incentives to do well in high-stakes settings.

This article investigates gender differences in the job search process in the field and lab. Our analysis is based on rich information on initial job offers and acceptances from undergraduates of Boston University’s Questrom School of Business. We find (i) a clear gender difference in the timing of job offer acceptance, with women accepting jobs substantially earlier than men, and (ii) a sizable gender earnings gap in accepted offers, which narrows in favor of women over the course of the job search period. To understand these patterns, we develop a job search model that incorporates gender differences in risk aversion and overoptimism about prospective offers. We validate the model’s assumptions and predictions using the survey data and present empirical evidence that the job search patterns in the field can be partly explained by the greater risk aversion displayed by women and the higher levels of overoptimism displayed by men. We replicate these findings in a laboratory experiment that features sequential job search and provide direct evidence on the purported mechanisms. Our findings highlight the importance of risk preferences and beliefs for gender differences in job-finding behavior and, consequently, early-career wage gaps among the highly educated.