If more financial decisions were made by women instead of men, we might not have so many financial crises. Its a fact that women are more risk averse than men. At least thats what several academic studies of gender behaviour in the stock market have found.
Now there is confirmation from a study of gender behaviour in the mortgage market. A study by two researchersat the U.S. Office of the Comptroller of the Currency found that the propensity for women to apply for risky adjustable rate mortgages (ARMs) was 10% to 50% lower. Women also had a propensity to select mortgages with longer fixed-rate periods.
The study controlled for education and financial variables. It also found that financial literacy increased with income and wealth.