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          Home Media Mention

          [BU Today] Tolerance for Risk May Contribute to Gender Pay Gap

          Patricia CortesbyPatricia Cortes
          January 28, 2022
          in Media Mention
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          0
          [BU Today] How Much Did US Insurers Waste on Ivermectin for COVID?
          Share on FacebookShare on TwitterShare on LinkedIn

          January 28, 2022

          BU Today recently published insight featuring Patricia Cortes, Associate Professor in Markets, Public Policy, and Law, on her co-authored research findings pertaining to the gender wage gap in Greater Boston.

          “Men tend to be more overconfident. Overconfidence means you think you’re better than you really are. If you’re risk-averse, you don’t want the risk of ending up with no job, so you have a lower reservation wage, a [minimum acceptable] wage you have in your head. If you think you’re really good, your reservation wage is higher”

          Patricia Cortes
          Associate Professor in Markets, Public Policy, & Law

          The article discusses the less-than-obvious factors Patricia and her co-authors found in closing the wage gap, highlighting that risk aversion in women and overconfidence in men sometimes cause it to widen or narrow. Patricia and her co-authors found that higher levels of risk aversion led women to accept jobs earlier, whereas men tend to hold out longer for a better offer, which in some cases be counterproductive. A study done by Patricia and her colleagues surveying 2,000 BU Questrom School of Business alumni and undergraduates showed that women and men who accepted job offers later had a narrower pay gap than peers who accepted jobs earlier.

          Read the Full Article
          Tags: Gender Pay GapPatricia Cortes
          Patricia Cortes

          Patricia Cortes

          Patricia Cortes is an Associate Professor of Markets, Public Policy, and Law at Boston University Questrom School of Business and Associate Director of the Human Capital Initiative at the Global Development Policy Center of Boston University. She is an empirical labor economist working on international migration and gender. Her work has been published in leading economic journals, such as the Journal of Political Economy, Review of Economic Studies, American Economic Journal: Applied Economics, Journal of Labor Economics, Journal of Human Resources and Journal of Health Economics. Cortes obtained her PhD in Economics from MIT and a Master’s and Bachelor’s degree in Economics from La Universidad de los Andes in Bogota, Colombia.

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