Gender Differences Influencing Risk Level

It is commonly considered that females are more risk averse in both of our daily lives and theory researches. There are still many researches revealing that there is no gender difference in risk averse behavior. This paper aims to research the influencing factors of risk level and how they affect the behaviors based on the telephone survey from the Financial Industry Regulatory Authority in2010. This paper concludes through analysis that the risk exposed during the finance crisis between females and males are almost at the same level. But a deeper analysis finds out that females are more conservative compared with males in the self-evaluation of risk acceptance level. According to the rank sum test, under the same risk accumulation level, females tend to choose more kinds of insurance. Then I use OLS estimation to reveal that gender as well as age and income are significant factors to influence the numbers of the insurance kind.