American Economic Review Vol. 105 No. 2 2015

Thar SHE Blows? Gender, Competition, and Bubbles in Experimental Asset Markets

Catherine C. Eckel¹; Sascha Füllbrunn²

¹ Department of Economics, Texas A&M University, TAMU 4228, College Station, TX 77843-4228 (e-mail: ) · ² Department of Economics, Institute for Management Research, Radboud University Nijmegen, Thomas van Aquinostraat 5.1.15, 6525 GD Nijmegen, The Netherlands (e-mail: ).

Abstract

Do women and men behave differently in financial asset markets? Our results from an asset market experiment show a marked gender difference in producing speculative price bubbles. Mixed markets show intermediate values, and a meta-analysis of 35 markets from different studies confirms the inverse relationship between the magnitude of price bubbles and the frequency of female traders in the market. Women's price forecasts also are significantly lower, even in the first period. Implications for financial markets and experimental methodology are discussed.

DOI

10.1257/aer.20130683

Volume

105

Issue

2

Pages

906-920

Language

en

Sources

bibtex:phds-export.bib openalex crossref

Cite

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