This paper explores the relationship between self-declared risk aversion of private investors and their willingness to hold diversified portfolios of financial assets. The analysis is based on household survey data from the German Socioeconomic Panel (SOEP) that provides a reliable measure of...

This study investigates the role of gender in individuals’ financial risk taking. We find that although females exhibit, on average, lower risk propensity than males, the effect of gender on the actual risk taking varies across countries and across types of financial decisions. Specifically,...