Combining the methodologies of experiment economics and molecular genetics, we report genetic association between sex-hormone genes and ultimatum game (UG) behavior in a discovery sample from China and a replication sample from Israeli. We find that the estrogen receptor β gene (ESRβ) is...

It is increasingly recognized that decision making under uncertainty does not depend only on probabilities, but also on psychological factors. People display ambiguity aversion in preferring to bet on events with known probabilities rather than those for which probabilities are not known. People...

Keynes (1921) and Ellsberg (1961) have articulated an aversion toward betting on an urn containing balls of two colors of unknown proportion to one with a 50-50 composition. Keynes views this as reflecting different preferences for bets arising from different sources of uncertainty. Ellsberg...

We study the role of risk aversion underlying son preference in patriarchal societies, where sons serve as better insurance for old-age support than daughters. The implications of an insurance motive on son preference are two-fold. First, prior to the birth of their children, more risk-averse...