Department of Economics

This paper investigates the willingness to take financial risks among same-sex and mixed-sex couples. Using cross-sectional data from Survey of Consumer Finances, I employed multivariate and fixed-effect probability regression models and find a higher level of self-reported financial risk tolerance among gay couples as compared to heterosexual couples and lesbian couples. Risk tolerance difference in actual investment behaviors, including participation in stock and bond market and percentage of liquid assets invested in stocks, were not statistically significant.