Empirical work in the US and the EU consistently suggests that women, on average, have a lower level of financial literacy and higher level of risk aversion than men. Yet despite the extensive research documenting differences in how men and women make financial decisions -particularly in how they invest -the effect of gender on mortgage choice has not been studied. Chau Do and Irina Paley (2013) take into account risk aversion and level of financial literacy as key determinants of most

more »

... behaviors, including mortgage choice, and examine the effect of gender on the choice of adjustable-versus fixed-rate mortgages among mortgage applicants in the United States.