Risk Tolerance Research Articles

The Mediating Role of Risk Tolerance in Realtionship Between Heusrtic and Prospect Theory and Investment Performance

The current study aims at investigating the factors affecting investment Performance. Moreover, the mediating effect of risk tolerance was also tested. The study utilized a quantitative research design for that the data was collected using a structured questionnaire. The questionnaire was sent to 200 individuals out of those 189 complete questionnaires were received. The study framework had constructs namely heuristics, Prospect theory, were independent variables while investment performance making was dependent variable and risk tolerance was the mediating variable. All the latent construct were measured using multi-items based on 5-point Likert scales from 5 strongly disagree to 1 strongly disagree. This study set out to find the relationship behavioural factors and investment performance of individual investors with the mediating effects of risk tolerance. The Structural Equation Model has revealed that there is a significant and positive relationship between behavioural factors and investment performance of individual investors and this relationship is partially mediated by risk tolerance.

The Influence of Financial Literacy on Individual Savings: A Study of University Staff

The intricate relationship between financial literacy and individual savings behavior has garnered considerable attention in personal finance. The study’s objective was to explore the effect of financial literacy, risk tolerance, education level, and work experience on the personal savings of university staff and their degree of relationship. Through a comprehensive survey (N=210), the collected data was subjected to correlational analysis, revealing significant positive correlations between financial literacy and personal savings (r = 0.623, p < 0.01). Further, a regression analysis was conducted, highlighting the predictive role of financial literacy (β = 0.585, p < 0.001), education level (β = 0.126, p < 0.05), and work experience (β = 0.124, p < 0.01) in determining personal savings behavior. These findings underscore the pivotal role of financial literacy in shaping prudent financial decisions and emphasize the potential for tailored educational interventions for enhanced financial well-being.

The hard impact low probabilities’ impacts on power distribution system economy

Electricity distribution systems benefit customers, investors, and operational managers economically. However, natural hazards pose significant risks to these networks, contributing to economic instability. This study assesses the impact of low-probability, high-impact events, particularly storms, on asset management and lifespan within the electricity distribution industry. By introducing three key indicators—rate of return, service rate, and cost per asset—the research investigates how different assets respond to various risks. Each asset has a distinct threshold for risk tolerance, which diminishes as its lifespan increases. Utilizing a cost model and analyzing breakpoint curves, the study evaluates the effects of high impact and low probability (HILP) incidents on the indicators mentioned earlier, factoring in asset composition changes. The study assesses the impact of storms with varying intensities on a sample network by formulating economic relations and allocating budgets for HILP events across different network conditions. Results highlight the allocation of budgetary resources for securing assets of different ages within the network. Furthermore, sensitivity analysis explores how changes in network expansion coefficients and failure rates influence these factors. Notably, findings reveal that systems with slower development rates exhibit greater asset resilience; as demonstrated in scenario 3, the assets are strengthened from a 70-year life to a 6-year life for a 145 km storm.

National Trends in Utilization of Normothermic Machine Perfusion in DCD Liver Transplantation.

In liver transplantation, advances in ex situ normothermic machine perfusion (NMP) have improved outcomes compared with traditional static cold storage (SCS) in donation after circulatory death (DCD) organs. We aimed to characterize trends in the utilization of NMP versus SCS in DCD liver transplantation in the United States. This retrospective cohort study used data from the United Network for Organ Sharing database to identify recipient-donor adult liver transplant pairs from DCD donors from January 2016 to June 2022. Utilization of NMP and changes in donor risk index (DRI) and components between NMP and SCS were assessed across transplant year eras (2016-2018, 2019-2020, and 2021-2022). Statistical comparisons were made using the Kruskal-Wallis test or the chi-square test. A total of 3937 SCS and 127 NMP DCD donor transplants were included. Utilization of NMP ranged from ~0.4% to 3.5% from 2016 to 2021 and rose significantly to 11.2% in early 2022. Across transplant eras, median DRI increased significantly for SCS and NMP, but the magnitude of the increase was larger for NMP. With NMP DCDs, there were significant increases in median donor age, national share proportion, and "cold ischemic time" over time. Finally, there was a shift toward including higher DRI donors and higher model for end-stage liver disease score transplant recipients with NMP in later transplant eras. In recent years, NMP utilization has increased and expanded to donors with higher DRI and recipients with higher model for end-stage liver disease score at transplant, suggesting increasing familiarity and risk tolerance with NMP technology. As NMP remains a relatively new technique, ongoing study of patient outcomes, organ allocation practices, and utilization patterns is critical.

Preference Phenotypes in Thyroid Nodule Management: A Patient Segmentation Approach.

Patient preferences regarding thyroid nodules are poorly understood. Our objective is to (1) employ a discrete choice experiment (DCE) to explore risk tradeoffs in thyroid nodule management, and (2) segment respondents into preference phenotypes. DCE. Thyroid surgery clinic, online survey. A DCE including 5 attributes (cancer risk, voice concerns, incision/scar, medication requirement, follow-up frequency) was refined with qualitative patient and physician input. A final DCE including 8 choice tasks, demographics, history, and risk tolerance was administered to participants with and without thyroid disease. Analysis was performed with multinomial logit modeling and latent class analysis (LCA) for preference phenotyping. A total of 1026 respondents were included; 480 had thyroid disease. Risk aversion was associated with increasing age (P < .001), female gender (P < .001), and limited education (P = .038), but not previous thyroid disease. Cancer risk most significantly impacted decision-making. Of the total possible utility change from thyroid nodule decision-making, 47.8% was attributable to variations in cancer risk; 20.0% from medication management; 14.9% from voice changes; 12.7% from incision/scar; and 4.6% from follow-up concerns. LCA demonstrated 3 classes with distinct preference phenotypes: the largest group (64.2%) made decisions primarily based on cancer risk; another group (18.2%) chose based on aversion to medication; the smallest group (17.7%) factored in medication and cancer risk evenly. Cancer risk and the need to take medication after thyroid surgery factor into patient decision-making most heavily when treating thyroid nodules. Distinct preference phenotypes were demonstrated, reinforcing the need for individual preference assessment before the treatment of thyroid disorders.

The factors affecting investment intentions for employees of PT Bank Central Asia, Tbk.

This research was conducted to analyze the effect of Personality Traits, Financial Literacy, and Risk Tolerance on Investment Intentions in environmentally friendly companies with Risk Tolerance as a moderating variable, providing input for environmentally friendly companies so they can be more attractive to investors, and contribute to the science of financial management by developing an understanding of the Investment Intentions variable in environmentally friendly companies. This research used quantitative method. The sample is 280 respondents with purposive sampling technique to the employees of PT Bank Central Asia, Tbk. Data was analyzed with Structural Equation Modelling-Partial Least Square (SEM-PLS). The results are personality traits, financial literacy, and risk tolerance had effect on investment intentions and risk tolerance had a moderating effect between financial literacy and investment intentions. With this research, it is hoped that environmentally friendly companies will manage their companies well and do environmentally friendly things included in its annual report so that potential investors are interested in investing in environmentally friendly companies. This research also expected to enrich the knowledge of financial management by providing an understanding of the Investment Intentions variable in environmentally friendly companies. Keywords:environmentally friendly company financial literacy, risk tolerance, investment intentions, personality traits

Heterogeneous risk tolerance, in-groups, and epidemic waves.

There is a growing interest in the joint modeling of the dynamics of disease and health-related beliefs and attitudes, but coupling mechanisms are yet to be understood. We introduce a model where risk information, which can be delayed, comes in two flavors, including historical risk derived from perceived incidence data and predicted risk information. Our model also includes an interpretation domain where the behavioral response to risk information is subject to in-group pressure. We then simulate how the strength of behavioral reaction impacts epidemic severity as measured by epidemic peak size, number of waves, and final size. Simulated behavioral response is not effective when the level of protection that prophylactic behavior provides is as small as 50% or lower. At a higher level of 75% or more, we see the emergence of multiple epidemic waves. In addition, simulations show that different behavioral response profiles can lead to various epidemic outcomes that are non-monotonic with the strength of reaction to risk information. We also modeled heterogeneity in the response profile of a population and find they can lead to less severe epidemic outcome in terms of peak size.

Financial Behavior in Personal Investment: Influence of Psychological Factors on Investment Decision

In the ever-evolving realm of financial markets, understanding the underlying psychological dynamics shaping investor behavior is paramount. Financial behavior refers to the choices and actions people make when managing their own cash across a range of investment vehicles, including stocks, bonds, mutual funds, and real estate. It includes components that are vital in determining the results of investments, including risk tolerance, investment objectives, decision biases, emotions, and financial literacy. Achieving long-term investment success and financial security requires an understanding of and ability to control one's own financial behavior. An extensive research model has been painstakingly built to clarify the complex connections between these psychological variables and the process of making investing decisions. This study examines the impact of three psychological aspects on investment decisions made by 220 investors who trade on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE): information asymmetry, problem framing, and risk propensity. Effective investing strategies necessitate an awareness of the interplay between psychological biases and cognitive processes, as these aspects influence personal investment decisions. By using a quantitative research methodology, information was gathered by sending surveys to investors who were actively trading stocks on the BSE and NSE platforms. Regression analysis and correlation studies are two statistical analytic approaches that were used to investigate the connections between investing decisions and psychological aspects. The study's conclusions add to the corpus of knowledge by illuminating the complex dynamics of financial decision-making and the part played by psychological variables. Furthermore, the knowledge gained from this study has important ramifications for financial advisors, investors, and legislators that aim to improve investor welfare and encourage well-informed stock market decision-making.&#x0D;

Receipt of RhD-positive whole blood for life-threatening bleeding in female children: A survey in alloimmunized mothers regarding minimum acceptable survival benefit relative to risk of maternal alloimmunization to anti-D.

Low-titer group O whole blood (LTOWB) for treatment of hemorrhagic shock sometimes necessitates transfusion of RhD-positive units due to short supply of RhD-negative LTOWB. Practitioners must choose between using RhD-positive LTOWB when RhD-negative is unavailable against the risk to a female of childbearing potential of becoming RhD-alloimmunized, risking hemolytic disease of the fetus and newborn (HDFN) in future children, or using component therapy with RhD-negative red cells. This survey asked females with a history of red blood cell (RBC) alloimmunization about their risk tolerance of RhD alloimmunization compared to the potential for improved survival following transfusion of RhD-positive blood for an injured RhD negative female child. A survey was administered to RBC alloimmunized mothers. Respondents were eligible if they were living in the United States with at least one red cell antibody known to cause HDFN and if they had at least one RBC alloimmunized pregnancy. Responses from 107 RBC alloimmmunized females were analyzed. There were 32/107 (30%) with a history of severe HDFN; 12/107 (11%) had a history of fetal or neonatal loss due to HDFN. The median (interquartile range) absolute improvement in survival at which the respondents would accept RhD-positive transfusions for a female child was 4% (1%-14%). This was not different between females with and without a history of severe or fatal HDFN (p = .08 and 0.38, respectively). Alloimmunized mothers would accept the risk of D-alloimmunization in a RhD-negative female child for improved survival in cases of life-threatening bleeding.

Gender Differences in Caregivers' Attitudes to Risky Child Play in Britain: A Cross-Sectional Study.

This study examines gender differences in parental attitudes toward risky play for 5- to 11-year-old boys and girls in Britain. Analyses use data from the cross-sectional, nationally representative British Child Play Survey. Survey respondents were caregivers of primary-school-aged children living in Britain. Parent self-reported their risk tolerance in play via the Tolerance for Risk in Play Scale (TRiPS) and the Risk Engagement and Protection Survey (REPS). The REPS includes subscales that assess caregiver attitudes around "Protection from Injury" (PFI) and "Engagement with Risk" (EWR) in relation to children's play. Multiple linear regression compared caregiver gender differences in TRiPS, REPS-PFI, and REPS-EWR at the item level, and overall. Associations between child gender and these scales were also examined. Among 1919 caregivers, no significant gender differences emerged in mean TRiPS (P = .72), REPS-EWR (P = .58), and REPS-PFI (P = .34) scores. Activity-specific differences were evident in caregivers' tolerance for individual risky play activities (15/31 activities). Parents of boys exhibited higher risk tolerance (B = -4.48, P < .01) and willingness for their child to engage in risky play (B = -0.63, P < .01) than parents of girls. While there was no difference between male and female caregivers overall attitudes, gender differences were prominent for specific play activities and attitudes, with male caregivers demonstrating higher tolerance for the riskiest activities. Parents of boys expressed more permissive attitudes toward engagement in risky play. Further work is needed to identify why there is gender-related variation in these attitudes and should be considered in interventions that support parents in enabling adventurous play opportunities for children.

Testing Integrative Models of the Change Behavior in the Intention to Adopt Cryptocurrency

This study explores the adoption of cryptocurrency, specifically Bitcoin, in the Philippines. The authors argue that current behavioral prediction models, such as TRA, TPB, and TAM, do not adequately account for the affective constructs of decision-making when high monetary stakes are involved. To address this gap, the authors propose an integrative model that accounts for financial decision-making processes, risk constructs, and population-specific behavioral strategies. The study used a quantitative-based research design and involved 684 university students from one of the major state universities in the Philippines. The findings show that perceived usefulness, attitude toward cryptocurrency, self-efficacy, and descriptive norms significantly influenced the intention to adopt cryptocurrency. Overall, the study confirms the direct influence of instrumental attitude, knowledge of cryptocurrency, descriptive norm, risk tolerance, ease and difficulty, and control on an individual’s intention to use cryptocurrency. The study contributes to exploring a less studied Philippine consumer base and provides empirical findings and insights into Bitcoin adoption in developing Asian economies. JEL Classification: G15. G17, G41, P33, G32.

The Study on Investment Behavior of Working Women in Chennai

The research project titled "A Study on Investment Behaviour of Working Women in Chennai" investigates the financial habits and preferences of working women in Chennai in the education sector, with a focus on their investment patterns. Primary data required for the descriptive research was collected through physical questionnaires. The study aims to analyze the impact of factors such as age, income levels, education, and employment sectors on investment behavior, as well as the influence of digitalization skills, financial knowledge, and risk tolerance levels. With a purposeful sample size of 350 working women and a purposive sampling technique. The percentage analysis, Weighted Average, Regression analysis, and ANOVA were performed for the research using SPSS (v16) software. The research provides valuable insights into the investment behavior of this demographic. The findings highlight the prevalence of short-term investment preferences, the need for enhanced financial literacy programs, and the influence of external factors on investment patterns.

Emergency physician resource utilization varies by years of experience.

One of the most pivotal decisions an emergency physician (EP) makes is whether to admit or discharge a patient. The emergency department (ED) work-up leading to this decision involves several resource-intensive tests. Previous studies have demonstrated significant differences in EP resource utilization, measured by lab tests, advanced imaging (magnetic resonance imaging [MRI], computed tomography [CT], ultrasound), consultations, and propensity to admit a patient. However, how an EP's years of experience may impact their resource utilization and propensity to admit patients has not been well characterized. This study seeks to better understand how EPs' years of experience, post-residency, relates to their use of advanced imaging and patient disposition. Ten years of ED visits were analyzed for this study from a single, academic tertiary care center in the urban Northeast United States. The primary outcomes were utilization of advanced imaging during the visit (CT, MRI, or formal ultrasound) and whether the patient was admitted. EP years of experience was categorized into 0-2years, 3-5years, 6-8years, 9-11years, and 12 or more years. Patient age, sex, Emergency Severity Index (ESI), and the attending EP's years of experience were collected. The relationship between EP years of experience and each outcome was assessed with a linear mixed model with a random effect for provider and patient age, sex, and ESI as covariates. A total of 460,937 visits seen by 65 EPs were included in the study. Over one-third (37.6%) of visits had an advanced imaging study ordered and nearly half (49.5%) resulted in admission. Compared to visits with EPs with 0-2years of experience, visits with EPs with 3-5 or 6-8years of experience had significantly lower odds of advanced imaging occurring. Visits seen by EPs with more than 2 years of experience had lower odds of admission than visits by EPs with 0-2years of experience. More junior EPs tend to order more advanced imaging studies and have a higher propensity to admit patients. This may be due to less comfort in decision-making without advanced imaging or a lower risk tolerance. Conversely, the additional clinical experience of the most senior EPs, with greater than 9years of experience,likely impacts their resource utilization patterns such that their use of advanced imaging does not significantly differ from the most junior EPs.

A research proposal to examine psychological factors that influence financial planning for retirement in China

The life expectancy rate of individuals worldwide has risen, and China is not excluded. Combined with an aging population, increasing pressure on the pension fund system, and a lack of savings, it poses a significant challenge to financial security unless measures are taken to improve individuals’ planning and financial well-being in retirement. This study aims to examine the psychological factors that influence individuals' FPR, thereby expanding the explanatory models for retirement savings decisions and behaviors. Using the CWO Model and supported by image Theory and the 3M Model, this research focuses on how the interaction between future time perspective, risk tolerance, retirement goal clarity, subjective financial literacy and objective financial literacy as psychological characteristics influence individuals' FPR. To obtain meaningful results, back translation was used to check the accuracy of the preliminary translation of research instruments. This translation method was also combined with the pretest method of expert reviews and cognitive interviews to increase the validity of the survey questionnaire. A purposive sampling technique will be applied to collect data from adults who are over 23 years old and have a certain income stream in six cities in China. The Structural Equation Modelling software will be used to examine the hypotheses of direct and mediating effects. This study has implications for financial market regulators, policy makers, and consumers. Keywords: CWO model; decision-making; financial planning; financial literacy; psychological factors; retirement

디지털 리터러시역량이 기술창업 기회역량에 미치는 영향에 관한 연구

This study investigates how strengthening college students' digital literacy competency and technology start-up opportunity capacity affects the development of career paths such as employment and entrepreneurship, and determines how digital literacy competency strengthens college students' ability to prepare for the future. This study was conducted to find ways to help college students discover entrepreneurship opportunities through empirical research on competency. The main empirical research results are as follows. First, the higher the digital literacy competency, the higher the potential entrepreneur's technical knowledge, creative thinking, and technology commercialization feasibility assessment, which was found to have a positive impact on technology startup opportunity capabilities. Second, among the sub-variables of digital literacy capabilities and technological startup opportunity capabilities, innovativeness was found to have a positive moderating effect in the relationship between technological knowledge and creative thinking. These analysis results suggest that digital literacy capabilities can increase innovation in relation to technical knowledge and creative thinking. Third, innovativeness, risk tolerance, and competitive attitude were found to have a positive moderating effect in the relationship between digital literacy competency and technology startup opportunity competency evaluation of technology commercialization potential. Fourth, although it has been shown in previous studies that digital literacy competency has a positive effect on technology startup opportunity capabilities, in this study, the interaction effects with innovativeness, risk tolerance, and competitive attitude were analyzed in more depth. This result suggests that digital literacy capabilities alone are not sufficient to increase entrepreneurial opportunity capabilities and must be considered along with other factors such as innovativeness, risk tolerance, and competitive attitude. In particular, people with high innovativeness tend to accept new ideas, and people with high risk tolerance tend to take on challenges without fear of failure. These characteristics can play an important role in increasing the capacity for entrepreneurial opportunities, so it is important to consider these factors together. Additionally, this suggests that education and support programs that help college students and young entrepreneurs develop and strengthen these capabilities are becoming more important.

A novel decision support system for proactive risk management in healthcare based on fuzzy inference, neural network and support vector machine

BackgroundThe nature of activities practiced in healthcare organizations makes risk management the most crucial issue for decision-makers, especially in developing countries. New technologies provide effective solutions to support engineers in managing risks. PurposeThis study aims to develop a Decision Support System (DSS) adapted to the healthcare constraints of developing countries that enables the provision of decisions about risk tolerance classes and prioritizations of risk treatment. MethodsFailure Modes and Effects Analysis (FMEA) is a popular method for risk assessment and quality improvement. Fuzzy logic theory is combined with this method to provide a robust tool for risk evaluation. The fuzzy FMEA provides fuzzy Risk Priority Number (RPN) values. The artificial neural network is a powerful algorithm used in this study to classify identified risk tolerances. The risk treatment process is taken into consideration in this study by improving FMEA. A new factor is added to evaluate the feasibility of correcting the intolerable risks, named the control factor, to prioritize these risks and start with the easiest. The new factor is combined with the fuzzy RPN to obtain intolerable risk prioritization. This prioritization is classified using the support vector machine. FindingsResults prove that our DSS is effective according to these reasons: (1) The fuzzy-FMEA surmounts classical FMEA drawbacks. (2) The accuracy of the risk tolerance classification is higher than 98%. (3) The second fuzzy inference system developed (the control factor for intolerable risks with the fuzzy RPN) is useful because of the imprecise situation. (4) The accuracy of the fuzzy-priority results is 74% (mean of testing and training data). ConclusionsDespite the advantages, our DSS also has limitations: There is a need to generalize this support to other healthcare departments rather than one case study (the sterilization unit) in order to confirm its applicability and efficiency in developing countries.

Personal Wealth, Risk Tolerance, and Stock Allocation: A Markov Chain Approach

Personal Wealth, Risk Tolerance, and Stock Allocation: A Markov Chain Approach

International consensus on mitotane treatment in pediatric patients with adrenal cortical tumors: indications, therapy, and management of adverse effects.

Mitotane is an important cornerstone in the treatment of pediatric adrenal cortical tumors (pACC), but experience with the drug in the pediatric age group is still limited and current practice is not guided by robust evidence. Therefore, we have compiled international consensus statements from pACC experts on mitotane indications, therapy, and management of adverse effects. A Delphi method with 3 rounds of questionnaires within the pACC expert consortium of the international network groups European Network for the Study of Adrenal Tumors pediatric working group (ENSAT-PACT) and International Consortium of pediatric adrenocortical tumors (ICPACT) was used to create 21 final consensus statements. We divided the statements into 4 groups: environment, indications, therapy, and adverse effects. We reached a clear consensus for mitotane treatment for advanced pACC with stages III and IV and with incomplete resection/tumor spillage. For stage II patients, mitotane is not generally indicated. The timing of initiating mitotane therapy depends on the clinical condition of the patient and the setting of the planned therapy. We recommend a starting dose of 50 mg/kg/d (1500 mg/m²/d) which can be increased up to 4000 mg/m2/d. Blood levels should range between 14 and 20 mg/L. Duration of mitotane treatment depends on the clinical risk profile and tolerability. Mitotane treatment causes adrenal insufficiency in virtually all patients requiring glucocorticoid replacement shortly after beginning. As the spectrum of adverse effects of mitotane is wide-ranging and can be life-threatening, frequent clinical and neurological examinations (every 2-4 weeks), along with evaluation and assessment of laboratory values, are required. The Delphi method enabled us to propose an expert consensus statement, which may guide clinicians, further adapted by local norms and the individual patient setting. In order to generate evidence, well-constructed studies should be the focus of future efforts.

The Influence of Self-Efficacy and Tolerance for Risk on the Interest in Entrepreneurship of Students of the in Medan City

Self-Efficacy and Tolerance for Risk are important factors that influence students' excellence in business ventures. This research aims to partially and simultaneously measure the influence of SeIf-Efficacy and ToIerance for Risk on students' entrepreneurial interest in the city of Medan. This research uses a form of quantitative research with an associative approach. The research results were obtained based on several tests, namely validity and reliability tests, classical assumption tests, multiple linear regression analysis, and hypothesis tests processed with IBM SPSS V.26. The results of this research are that partially and simultaneously the variables Self-Efficacy and Tolerance for Risk have a positive and significant influence on students' entrepreneurial interest in the city of Medan.

Gender Differences in Risk Preferences and Insurance Choices

Purpose: The general purpose of the study was to examine gender differences in risk preferences and insurance choices.&#x0D; Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.&#x0D; Findings: The findings reveal that there exists a contextual and methodological gap relating to gender differences in risk preferences and insurance choices. The study provided valuable insights into the complex dynamics shaping individuals' attitudes towards risk and insurance decisions. Through comprehensive analysis, it confirmed significant gender disparities in risk preferences, with men generally exhibiting higher levels of risk tolerance compared to women. Additionally, it revealed that women demonstrated a greater propensity to purchase insurance coverage, contrary to traditional stereotypes. The study emphasized the importance of considering intersectionality in understanding gender disparities in insurance access and highlighted the role of behavioral economics in influencing decision-making processes. Overall, the findings underscored the need for targeted interventions and policy initiatives to address gender-based disparities in insurance access and promote financial well-being across diverse populations.&#x0D; Unique Contribution to Theory, Practice and Policy: Social Role theory, Behavioural Economics and Feminist theory may be used to anchor future studies on risk preferences and insurance choices. The study made several recommendations to address gender disparities in risk management and insurance access. It suggested the development of targeted financial education programs, gender-sensitive insurance products, and regulatory measures to promote gender equality in insurance coverage. Additionally, the study emphasized the importance of fostering diversity and inclusion within the insurance industry and continuing research to monitor progress over time. By implementing these recommendations, stakeholders aimed to create more inclusive and equitable insurance markets, enhancing financial security and well-being for all individuals.&#x0D; Keywords: Gender Differences, Risk Preferences, Insurance Choices, Financial Education, Gender-Sensitive, Regulatory Measures, Diversity, Inclusion, Equity