![]() While a main effect of gender on value is not observed, there is an enhanced “optimism bias” in how both favorable and unfavorable information influences the subjective value of ambiguous financial prospects for male compared to female participants. It examines how individuals assign value in uncertain decisions based on the partial information they do have. The present work approaches this problem from a novel angle, focusing on the use of information that is present rather than the impact of information that is absent. Prior research has suggested that there are differences in how men and women evaluate risk, but evidence related to gender and ambiguity is mixed. ![]() While risky decisions include the probabilities of the possible outcomes, ambiguous decisions involve both unknown probabilities and unknown outcomes. Based on relevant behavioral differences between men and women proposed in literature, reasons for this phenomenon are proposed.ĭecision-makers often are faced with uncertain situations in which they have incomplete information. Female borrowers who belonged to the highest income group received their lowest interest rates in 2015–2017, which were 0.026 percentage points lower than those faced by male peers in the same financial position. The obtained result indicated that during 2009–2017, women’s status shifted from disadvantageous to advantageous in the mortgage market. This study adopted income as a threshold condition to estimate the effect of various default risk factors on mortgage rates. In terms of default risk assessment, lenders may distinguish between female borrowers with different incomes, causing income to become the key factor determining the interest rate received by female borrowers. However, regression analysis indicated that income might exert diverse effects on the interest rates received by women. ![]() This condition was most severe during 2012–2014, when female borrowers must pay an average of 0.1 percentage points higher rates than male peers. Preliminary examination revealed that women faced a comparatively high mortgage rate. This study employed data on US mortgage rates from 2009 to 2017 to study the effect of gender on the mortgage rate. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |