Title
The effectiveness of assigned goals in complex financial decision making and the importance of gender
Document Type
Article
Publication Date
2006
Department
Management
Abstract
Evidence suggests that men are more confident and less risk averse in financial decision making. Researchers did not address how men and women respond differently to goals in financial decision situations, however. In the present study, men set more challenging personal goals and risked more resources than women in a complex financial decision task. Men did not report higher self-efficacy versus women. As expected, gender interacted with assigned goals to predict self-efficacy, risk behavior, and personal goals. Results concur with recent financial decision research that suggests men and women differ in their use of externally-provided information such as assigned goals. Suggestions for future research are offered and limitations are discussed. Reprinted by permission of Springer
Citation
Endres, M. L. (2006). The effectiveness of assigned goals in complex financial decision making and the importance of gender. Theory and Decision, 61(2), 129–158. doi:10.1007/s11238-006-0006-z