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Low- and high-testosterone individuals exhibit decreased aversion to economic risk.

Publication ,  Journal Article
Stanton, SJ; Mullette-Gillman, OA; McLaurin, RE; Kuhn, CM; LaBar, KS; Platt, ML; Huettel, SA
Published in: Psychol Sci
April 2011

Testosterone is positively associated with risk-taking behavior in social domains (e.g., crime, physical aggression). However, the scant research linking testosterone to economic risk preferences presents inconsistent findings. We examined the relationship between endogenous testosterone and individuals' economic preferences (i.e., risk preference, ambiguity preference, and loss aversion) in a large sample (N = 298) of men and women. We found that endogenous testosterone levels have a significant U-shaped association with individuals' risk and ambiguity preferences, but not loss aversion. Specifically, individuals with low or high levels of testosterone (more than 1.5 SD from the mean for their gender) were risk and ambiguity neutral, whereas individuals with intermediate levels of testosterone were risk and ambiguity averse. This relationship was highly similar in men and women. In contrast to received wisdom regarding testosterone and risk, the present data provide the first robust evidence for a nonlinear association between economic preferences and levels of endogenous testosterone.

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Published In

Psychol Sci

DOI

EISSN

1467-9280

Publication Date

April 2011

Volume

22

Issue

4

Start / End Page

447 / 453

Location

United States

Related Subject Headings

  • Young Adult
  • Uncertainty
  • Testosterone
  • Sex Factors
  • Risk-Taking
  • Middle Aged
  • Male
  • Humans
  • Games, Experimental
  • Female
 

Citation

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Stanton, S. J., Mullette-Gillman, O. A., McLaurin, R. E., Kuhn, C. M., LaBar, K. S., Platt, M. L., & Huettel, S. A. (2011). Low- and high-testosterone individuals exhibit decreased aversion to economic risk. Psychol Sci, 22(4), 447–453. https://doi.org/10.1177/0956797611401752
Stanton, Steven J., O’Dhaniel A. Mullette-Gillman, R Edward McLaurin, Cynthia M. Kuhn, Kevin S. LaBar, Michael L. Platt, and Scott A. Huettel. “Low- and high-testosterone individuals exhibit decreased aversion to economic risk.Psychol Sci 22, no. 4 (April 2011): 447–53. https://doi.org/10.1177/0956797611401752.
Stanton SJ, Mullette-Gillman OA, McLaurin RE, Kuhn CM, LaBar KS, Platt ML, et al. Low- and high-testosterone individuals exhibit decreased aversion to economic risk. Psychol Sci. 2011 Apr;22(4):447–53.
Stanton, Steven J., et al. “Low- and high-testosterone individuals exhibit decreased aversion to economic risk.Psychol Sci, vol. 22, no. 4, Apr. 2011, pp. 447–53. Pubmed, doi:10.1177/0956797611401752.
Stanton SJ, Mullette-Gillman OA, McLaurin RE, Kuhn CM, LaBar KS, Platt ML, Huettel SA. Low- and high-testosterone individuals exhibit decreased aversion to economic risk. Psychol Sci. 2011 Apr;22(4):447–453.
Journal cover image

Published In

Psychol Sci

DOI

EISSN

1467-9280

Publication Date

April 2011

Volume

22

Issue

4

Start / End Page

447 / 453

Location

United States

Related Subject Headings

  • Young Adult
  • Uncertainty
  • Testosterone
  • Sex Factors
  • Risk-Taking
  • Middle Aged
  • Male
  • Humans
  • Games, Experimental
  • Female