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Tytuł:
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The effect of testosterone on economic risk-taking: A multi-study, multi-method investigation.
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Autorzy:
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Stanton SJ; 420 Elliott Hall, School of Business Administration, Oakland University, 2200 N. Squirrel Rd., Rochester, MI 48309, United States of America. Electronic address: .
Welker KM; OpenMind Platform, United States of America. Electronic address: .
Bonin PL; Northern Ontario School of Medicine, 935 Ramsey Lake Rd., Sudbury, ON P3E 2C6, Canada.
Goldfarb B; Northern Ontario School of Medicine, 935 Ramsey Lake Rd., Sudbury, ON P3E 2C6, Canada. Electronic address: .
Carré JM; Nipissing University, 100 College Drive, North Bay P1B 8L7, Ontario, Canada. Electronic address: .
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Źródło:
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Hormones and behavior [Horm Behav] 2021 Aug; Vol. 134, pp. 105014. Date of Electronic Publication: 2021 Jun 29.
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Typ publikacji:
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Journal Article; Randomized Controlled Trial; Research Support, Non-U.S. Gov't
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Język:
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English
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Imprint Name(s):
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Original Publication: New York, London, Academic Press.
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MeSH Terms:
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Risk-Taking*
Testosterone*
Decision Making ; Double-Blind Method ; Humans
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Contributed Indexing:
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Keywords: Decision making; Decision neuroscience; Hormone; Loss aversion; Neuroeconomics; Risk-taking; Testosterone
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Substance Nomenclature:
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3XMK78S47O (Testosterone)
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Entry Date(s):
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Date Created: 20210702 Date Completed: 20211101 Latest Revision: 20211101
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Update Code:
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20240104
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DOI:
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10.1016/j.yhbeh.2021.105014
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PMID:
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34214918
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Testosterone has been suggested to influence individuals' economic decision making, yet the effects of testosterone on economic behavior are not well-understood and existing research is equivocal. In response, in three studies, we examined the extent to which testosterone affected or was associated with several different facets of economic decision making. Study 1 was a double-blind, placebo-controlled, within-subjects study examining loss aversion and risk-taking (N = 26), whereas Study 2 was a larger double-blind, placebo-controlled, between-subjects study examining loss aversion and risk-taking behavior (N = 117). As a methodological compliment, Study 3 was a larger correlational design (N = 213) with a highly accurate measure of endogenous testosterone examining a wider range of economic behaviors and trait-like preferences. Broadly, the results of all three studies suggest no consistent relationship between testosterone and financial behavior or preferences. Although there were significant effects in specific cases, these findings did not replicate in other studies or would not remain significant when controlling for family-wise error rate. We consider potential contextual moderators that may determine under what circumstances testosterone affects economic decision making.
(Copyright © 2021 Elsevier Inc. All rights reserved.)
