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Our starting point is that risk assessments can be thought of, in general terms, to combine beliefs about the probability of negative outcomes occurring with a subjective valuation of how painful that negative outcome would be. Exploiting large\u2010scale panel data from the United Kingdom, we find that gender differences in financial optimism and financial loss aversion \u2013 the stronger psychological response to monetary losses than monetary gains \u2013 explain a substantial proportion of the parallel gender difference in willingness to take risks. This result prevails even after controlling for the Big Five personality traits, suggesting that the prominent psychological characteristics capture different aspects of behaviour than the Big Five.<\/jats:p>","DOI":"10.1111\/bjop.12668","type":"journal-article","created":{"date-parts":[[2023,6,9]],"date-time":"2023-06-09T04:06:45Z","timestamp":1686283605000},"page":"928-944","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":75,"title":["Gender differences in optimism, loss aversion and attitudes towards risk"],"prefix":"10.1111","volume":"114","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-2514-5372","authenticated-orcid":false,"given":"Chris","family":"Dawson","sequence":"first","affiliation":[{"name":"School of Management, University of Bath  Bath UK"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2023,6,9]]},"reference":[{"key":"e_1_2_10_2_1","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.2014.2085"},{"key":"e_1_2_10_3_1","volume-title":"The psychology of happiness","author":"Argyle M.","year":"1989"},{"key":"e_1_2_10_4_1","doi-asserted-by":"publisher","DOI":"10.1038\/s41598-020-72077-5"},{"key":"e_1_2_10_5_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.2044-8325.1980.tb00024.x"},{"key":"e_1_2_10_6_1","doi-asserted-by":"publisher","DOI":"10.1177\/001979390105500101"},{"key":"e_1_2_10_7_1","doi-asserted-by":"publisher","DOI":"10.1080\/00036846.2019.1610714"},{"key":"e_1_2_10_8_1","doi-asserted-by":"publisher","DOI":"10.2307\/144855"},{"key":"e_1_2_10_9_1","doi-asserted-by":"publisher","DOI":"10.1086\/701679"},{"key":"e_1_2_10_10_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.labeco.2007.06.007"},{"key":"e_1_2_10_11_1","doi-asserted-by":"publisher","DOI":"10.1007\/s11166-019-09315-3"},{"key":"e_1_2_10_12_1","doi-asserted-by":"publisher","DOI":"10.1177\/0956797613496436"},{"key":"e_1_2_10_13_1","doi-asserted-by":"publisher","DOI":"10.1177\/0146167216634060"},{"key":"e_1_2_10_14_1","first-page":"87","volume-title":"Human feelings: Explorations in affect development and meaning","author":"Brody L. 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