Children Do Not Behave Like Adults: Gender Gaps in Performance and Risk Taking within a Random Social Context in the High-StakesGame Shows Jeopardy and Junior Jeopardy

Using unique panel data, we compare cognitive performance and wagering behavior of children (10-11 years) with adults playing in the Swedish version of the TV-shows Jeopardy and Junior Jeopardy. Although facing the same well-known high-stakes game, and controlling for performance differences, there is no gender gap in risk-taking among girls and boys in contrast with adults, and, while girls take more risk than women, boys take less risk than men. We also find that female behavior is differently sensitive to social context. While women wager more, girls perform worse and employ inferior wagering strategies when randomly assigned male opponents.