Prior research has long shown that women are less risk tolerant in their financial decisions than men. New research shows that men and women do not think about investment risks differently. Instead, income uncertainty affects them differently, which leads to differences in risk tolerance.

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Prior research has long shown that women are less risk tolerant in their financial decisions than men. New research shows that men and women do not think about investment risks differently. Instead, income uncertainty affects them differently, which leads to differences in risk tolerance.