Abstract
This study investigates gender differences in time and risk preferences and how this difference evolves during adolescence. Using a sample of 4,830 non-self-selected teenagers from 207 classes across 22 Spanish schools, we provide a detailed analysis of how boys and girls differ – or not – in economic preferences, and how these preferences change as they grow older. Our large and rich dataset includes information on class attributes, social networks, and friends’ preferences, allowing us to control for a wide range of potentially confounding variables. We find no significant gender differences in patience or risk attitudes at younger ages. However, we find that older adolescents tend to exhibit different patterns than younger ones—girls in higher grades show more nuanced time preferences, and boys in higher grades appear more risk averse than girls. These patterns are shaped by cognitive abilities and the social environment within classrooms. Our findings underscore the importance of considering gender-specific developmental trajectories when studying economic preferences during adolescence.
•We study how preferences for time and risk evolve throughout adolescence.•We conducted a lab-in-the-field experiment in 22 schools across Spain, collecting data from 4,830 teenagers across 207 different classes.•We find that gender differences are not present at younger ages but emerge as adolescents grow older.•We also observe that individual heterogeneity in cognitive abilities and peer influence play a role in shaping these preferences.