Abstract
We explore how visual attention differentially impacts the trading behavior of men and women. In the laboratory, eye-tracking technology measures information gaze during a sequential trading game in which participants are asked to buy or sell an asset. Before making a decision, traders receive information on the trading decisions of other participants (others' decisions) and the redemption value of the asset (private information). Research documents that women, compared to men, pay more attention to social cues. In this study, women are more attention-driven when making financial decisions, as compared to men. We conclude that attentional priority is a cognitive mechanism that can account for the increased tendency of women, compared to men, to follow the social cues of others with disparate information and tournament incentives.
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