Journal
PROCEEDINGS OF THE NATIONAL ACADEMY OF SCIENCES OF THE UNITED STATES OF AMERICA
Volume 106, Issue 16, Pages 6535-6538Publisher
NATL ACAD SCIENCES
DOI: 10.1073/pnas.0812757106
Keywords
sex hormones; trust game; ultimatum game; risk aversion
Categories
Funding
- Jan Wallander and Tom Hedelius Foundation
- Swedish Council for Working Life and Social Research
- Swedish Research Council
- Karolinska Institutet
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Existing correlative evidence suggests that sex hormones may affect economic behavior such as risk taking and reciprocal fairness. To test this hypothesis we conducted a double-blind randomized study. Two-hundred healthy postmenopausal women aged 50-65 years were randomly allocated to 4 weeks of treatment with estrogen, testosterone, or placebo. At the end of the treatment period, the subjects participated in a series of economic experiments that measure altruism, reciprocal fairness, trust, trustworthiness, and risk attitudes. There was no significant effect of estrogen or testosterone on any of the studied behaviors.
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