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This paper examines whether gender differences in risk propensity and strategy in financial decision-making can be viewed as general traits, or whether they arise because of context factors. It presents the results of two computerised laboratory experiments designed to examine whether differences in risk preference and decision strategies are explained by the framing of tasks and level of task familiarity to subjects. The results show that females are less risk seeking than males irrespective of familiarity and framing, costs or ambiguity. The results also indicate that males and females adopt different strategies in financial decision environments but that these strategies have no significant impact on ability to perform. Because strategies are more easily observed than either risk preference or outcomes in day to day decisions, strategy differences may reinforce stereotypical beliefs that females are less able financial managers.
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