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Title: Heterogeneous Agents and Economics
Author: Aspiotis, Evangelos
ISNI:       0000 0001 3431 0195
Awarding Body: Imperial College London
Current Institution: Imperial College London
Date of Award: 2008
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We use an evolutionary psychology framework and hypothesize that men and women have heterogeneous economic preferences. In particular, we propose' that men are financially less risk averse than women. We test this supposition by calibrating the risk aversion coefficient for both sexes, using a Consumption Capital Asset Pricing Model and panel data on consumption. Our results. offer support to our hypothesis. Also, we assert that men prefer status more than women do. To assess the validity of this proposition we conduct direct tests on the structure of preferences, using panel data on life-satisfaction. The results from this exercise verify our hypothesis. We further investigate how gender differences in the preferences for status influence labour supply. To this end, we develop a static labour supply model with interdependent preferences and test for sex differences. Our results in the cross section are largely supportive of our model. However, once we control for fixed individual heterogeneity using panel data. we find no evidence of gender differences on labour supply.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available