(Mis)Perceptions of Race and Gender Wealth Gaps: Correlates and Consequences

• In Event: Intersectional Research on Class and Inequality

Abstract

The degree of both income and wealth inequality has grown in the United States over the last century. Importantly, though, wealth is distinct from income in both its distribution and impacts on health, mobility, policy-making, and more. Estimates from the Federal Reserve Board indicate that for every $100 in wealth the average White individual has, the average Black individual has only $13 in wealth, the average Hispanic individual has $18, and the average Asian individual has $28. Further, for every $100 the average man has, the average woman has $42. Despite the wide-reaching impact of wealth gaps, research suggests that Americans are largely unaware of them and vastly underestimate their size. Researchers have not yet investigated whether Americans also underestimate the gender wealth gap, nor do we know the possible effects of correcting (mis)perceptions of wealth gaps. Thus, the primary contributions of this project are twofold: (1) Better understanding which wealth gaps people are most (and least) aware of, as well as which social groups are better (or worse) informed about the size of wealth gaps; and (2) Examining downstream attitudinal effects after having misperceptions about these wealth gaps corrected with factual information, which vary by partisanship.

Authors

• Nicole Yadon, Ohio State University

• Lauren Valentino