Gender-based price discrimination in the annuity market: Evidence from Chile

This paper provides the first evidence for discriminatory behaviour against female consumers in annuity market. It focuses on Chile, where an electronic bidding system allows retirees to receive offers, simultaneously from several firms market same standardised product. By exploiting within-individual variation initial offers across firms, this analysis shows that with power offer more unfairly priced annuities women than men. result is driven by highly rated firms. Gender differences financial literacy can explain why find it profitable higher prices women.