The Gender Gap in Household Bargaining Power: A Revealed-Preference Approach

• 成果类型: Article; Early Access
• 署名作者: Gu, Ran; Peng, Cameron; Zhang, Weilong
• 署名单位: University of Essex; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; University of Cambridge
• 刊物名称: REVIEW OF FINANCIAL STUDIES
• ISSN/ISSBN: 0893-9454
• DOI: 10.1093/rfs/hhae039
• 发表日期: 2024
• 关键词: STOCK-MARKET PARTICIPATION; Financial decision-making; portfolio choice; RISK; LABOR; allocation; ECONOMICS; attitudes; division; BEHAVIOR

摘要

When members of the same household have different risk preferences, whose preference matters more for investment decisions and why? We propose an intrahousehold model that aggregates individual preferences at the household level as a result of bargaining. We structurally estimate the model, analyze the determinants of bargaining power, and find a significant gender gap. Gender differences in individual characteristics, as well as gender effects, partially explain the gap. These patterns hold broadly across Australia, Germany, and the United States. We further link the distribution of bargaining power to households' perceived gender norms in a cross-sectional analysis. (JEL G11, G41, G50)