We provide strong evidence for greater male variability in preferences; men are more likely to have extreme time, risk, and social preferences, while women are more likely to have moderate preferences

Converging evidence for greater male variability in time, risk, and social preferences. Christian Thöni and Stefan Volk. Proceedings of the National Academy of Sciences, June 8, 2021 118 (23) e2026112118; https://doi.org/10.1073/pnas.2026112118

Significance: There is continuing interest in the study of gender differences in economic and social outcomes. An important factor underlying gender differences in outcomes are gender differences in fundamental economic preferences, which are at the core of many differential choices of women and men. We provide strong evidence for greater male variability in preferences. We find that men are more likely to have extreme time, risk, and social preferences, while women are more likely to have moderate preferences. With the focus on mean differences, the current literature underestimates the importance of gender differences and their effects on differential choices and outcomes between women and men.

Abstract: Gender differences in time, risk, and social preferences are important determinants of differential choices of men and women, with broad implications for gender-specific social and economic outcomes. To better understand the shape and form of gender differences in preferences, researchers have traditionally examined the mean differences between the two genders. We present an alternative perspective of greater male variability in preferences. In a meta-analysis of experimental economics studies with more than 50,000 individuals in 97 samples, we find converging evidence for greater male variability in time, risk, and social preferences. In some cases, we find greater male variability in addition to mean differences; in some cases, we only find greater male variability. Our findings suggest that theories of gender differences are incomplete if they fail to consider how the complex interaction of between-gender differences and within-gender variability determines differential choices and outcomes between women and men.

Keywords: gendergreater male variabilitypreferencesmeta-analysis