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dc.contributor.authorSchipper, Burkharden_US
dc.description.abstractWe correlate choice under risk in Holt-Laury lottery tasks for gains and losses with salivary testosterone, estradiol, progesterone, and cortisol, the use of hormonal contraceptives, menstrual cycle information as well as the digit ratio (2D:4D) in more than 200 subjects. Risk aversion is negatively correlated with testosterone and positively correlated with cortisol, a stress hormone, for gains only. In males, testosterone is negatively correlated with risk aversion for gains only. In females, cortisol is marginally significantly positively correlated with risk aversion for gains only. No other significant correlations between risk aversion and salivary hormones are observed. In females, testosterone and progesterone are positively correlated with reflection, i.e., risk aversion for gains and risk seeking for losses. Testosterone is negatively correlated with consistency of preferences in females, while estradiol is negatively correlated with consistency of preferences in males. No significant correlations between risk aversion and the menstrual cycle or the digit ratio are observed. Females on hormonal contraceptives are more likely to make consistent choices although this may be due to a selection effect. Risk aversion is positively correlated with being female for losses only. Yet, if we control for salivary hormones we are surprised to find a negative correlation between female and risk aversion for gains.en_US
dc.publisherDep. of Economics, Univ. of California Davis, Calif.en_US
dc.relation.ispartofseriesWorking Papers, University of California, Department of Economics 12,7en_US
dc.subject.keywordMenstrual cycleen_US
dc.subject.keywordDigit ratioen_US
dc.subject.keywordRisk behavioren_US
dc.subject.keywordEndocrinological economicsen_US
dc.subject.keywordRisk aversionen_US
dc.subject.keywordRisk seekingen_US
dc.subject.keywordReflection effecten_US
dc.subject.keywordProspect theoryen_US
dc.titleSex hormones and choice under risken_US
dc.typeWorking Paperen_US
Appears in Collections:Working Papers, Department of Economics, UC Davis

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