Testosterone and cortisol jointly predict the ambiguity premium in an ellsberg-urns experiment
Previous literature has tried to establish whether and howsteroid hormones are related to economic risk-taking. In this study, we investigate the relationship between testosterone (T) and cortisol (C) on one side and attitudes toward risk and ambiguity on the other. We asked 78 male undergraduate st...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2017
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- eng
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/27038
- Acceso en línea:
- https://doi.org/10.3389/fnbeh.2017.00068
https://repository.urosario.edu.co/handle/10336/27038
- Palabra clave:
- Ambiguity
Cortisol
Dual hormone hypothesis
Ellsberg paradox
Testosterone
- Rights
- License
- Abierto (Texto Completo)
| Summary: | Previous literature has tried to establish whether and howsteroid hormones are related to economic risk-taking. In this study, we investigate the relationship between testosterone (T) and cortisol (C) on one side and attitudes toward risk and ambiguity on the other. We asked 78 male undergraduate students to complete several tasks and provide two saliva samples. In the task “Reveal the Bag,” participants expressed their beliefs on an ambiguous situation in an incentivized framework. In the task “Ellsberg Bags,” we elicited fromthe participants through an incentive-compatible mechanismthe reservation prices for a risky bet and an ambiguous bet. We used the difference between the two prices to calculate each participant’s ambiguity premium. We found that participants’ salivary T and C levels jointly predicted the ambiguity premium. Participants featuring comparatively lower levels of T and C showed the highest levels of ambiguity aversion |
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