Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/295841 
Year of Publication: 
2024
Series/Report no.: 
IZA Discussion Papers No. 16818
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
There are pronounced racial, ethnic, and gender gaps in income in the U.S. We investigate whether these correspond with differences in competitiveness, risk tolerance, and confidence relative to performance in a large, stratified sample of the U.S. prime-age population. We find substantial differences in all three traits across Black, Hispanic, and White males and females. These traits predict individual income. Competitiveness and risk tolerance help explain the White gender income gap. Competitiveness also affects the Black-White income gap between men. Confidence about one's performance helps explain a substantial and significant portion of all five race-gender income gaps with White men.
Subjects: 
racial/gender income gaps
overconfidence
competitiveness
risk tolerance
JEL: 
C90
D03
Document Type: 
Working Paper

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