The Role of Gender in Individual and Group Decision Making: A Research Model

Qi Deng,Shaobo Ji

doi:10.4236/jss.2014.23006

Abstract

Confronting with numerous investment choices, investors, either individual or group, invariably need to make the decision under some level of risk. Therefore, it is important to assess the risk attitudes and to examine the diversity of risk attitudes among different decision makers. In this paper, we focus on the risk preferences of male and female at both the individual and the group levels. We propose a conceptual model to examine three questions: 1) Does gender difference have an impact on individual decision making under risk? 2) Does decision context (individual decision vs. group decision) influence the decision making under risk? 3) Does the gender composition affect the risk preference of group decision making? Accordingly, a number of research hypotheses are proposed and are recommended to be tested using lottery-choice experiments.

Highlights

IntroductionInvestment decision making, which invariably involves some uncertainty, is a complex problem
There are three types of problem: simple, complicated and complex problems [1]
For group decision making context, three-member groups will be formed with various gender composition combinations

Summary

Introduction

Investment decision making, which invariably involves some uncertainty, is a complex problem. There are numerous variables, both known and unknown, to consider in investment decision. The decision is a result of a strenuous effort exercised between one’s expectations and preferences. Individual differences, in the form of demographics, psychological traits, and even physiology, and their impacts on decision makings have long been recognized and researched [2]. Gender difference has gained a lot of attentions because of the increasingly participation of women in business and investment decisions. Decision making in group context has been paid attention among researchers due to greater emphasis of collective, group oriented work environment. This paper aims to examine the role of gender and group gender composition in decision making. A research model and a number of research hypotheses are derived based on reviews of previous studies

Individual and Group Decision Making

Research Model and Research Hypotheses

Research Design

Findings

Discussion