Women outperformed men in intelligence and financial literacy

However, a new study by economists from the University of Georgia proves that these conclusions are based on faulty assessment methods.

Researchers Glenn Harrison, Don Ross and J. Todd Swarthout of the Centre for Economic Risk Analysis conducted a series of experiments showing that traditional tests ignore a key factor - confidence in the correctness of one's own answer - which distorts real cognitive ability.

Bottom line: Women are not only as good as men, but in some cases better than men in intelligence, decision-making and risk-assessment skills.

Most standard intelligence tests involve choosing one correct answer. However, in real life, not only accuracy is important, but also confidence in your decision. To take this factor into account, the researchers modified the classic Raven's test: the participants had to not just choose an option, but distribute 80 chips to 8 possible answers, reflecting the degree of their confidence.

The more accurately the bets were distributed, the higher the cash prize. A bet on only one answer could result in a loss if it turned out to be incorrect. Participants who intelligently assessed the probability of multiple choices earned more - an indicator of intelligence in the face of uncertainty.

When certainty was directly measured and financially incentivised, women consistently performed better. They allocated their "stakes" more efficiently and, as a consequence, were rewarded close to the maximum possible reward. This indicated more thoughtful and precise decisions.

The gap was particularly striking in situations of greatest difficulty and risk - where traditional theories have argued that women tend to shy away from competition.

"We found that women are quicker than men to notice the increasing complexity of tasks and adjust behaviour - slowing down the response, reducing confidence. Men remain assertive longer, even when they are already clearly starting to make mistakes," Harrison noted.

The results undermine the credibility of traditional approaches in education, recruiting and leadership assessment that often systemically undervalue women by ignoring confidence levels.

The study also challenges the common thesis that women need to "be more aggressive" to succeed. Instead, the data says: women are already pursuing a more rational strategy, especially in fields such as finance, law, and management, where a keen sense of risk is important.

In particular, in a tournament-style pay-for-performance model situation (where only the best man wins), women were more likely to decline to participate. However, this was not due to low self-esteem, but to a realistic assessment of chances and a more conscious attitude to risk. Men, on the other hand, were more likely to "overcompete" - and lose.

"Being able to recognise uncertainty means being willing to gather more information and advice before making a decision. This leads to better outcomes," Harrison emphasises. - "Women were more likely to have this flexibility in assessing their knowledge, which is what made them more effective."

The authors emphasise that it's time to redefine intelligence itself - as a combination of intelligence , self-awareness, the ability to manage risk and adapt to uncertainty.

For business, this is a serious signal: the most productive employees may not be the most confident, but those who better manage their confidence and know when to "play" and when to "pass".

And this is not a sign of weakness. It is a sign of maturity and strength.