IS GENDER BIAS A COST OF FAILURE ISSUE?

We provide evidence on a gender bias in risk aversion among students of economics in Spain. In a sample of 2278 multiple choice exams with penalization for errors, women consistently answer less questions, what could damage females’ scores. We also provide evidence on a different gender bias pattern between ordinary and resit exams, what could be related to the performance expectative of students. A lower cost of error could reduce the effect of risk aversion and improve the scores of women. Thus these exams may create a disadvantage for women.