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Testosterone and cortisol jointly predict the ambiguity premium in an Ellsberg-urns experiment

2017Journal article Open access
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dc.contributor.authorDanese, Giuseppe
dc.contributor.authorFernandes, Eugénia
dc.contributor.authorWatson, Neil V.
dc.contributor.authorZilioli, Samuele
dc.date.accessioned2017-07-12T09:46:42Z
dc.date.available2017-07-12T09:46:42Z
dc.date.issued2017
dc.description.abstractPrevious literature has tried to establish whether and how steroid 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 from the participants through an incentive-compatible mechanism the 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. The beliefs expressed by a subset of participants in the "Reveal the Bag" task rationalize (in a revealed preference sense) their choices in the "Ellsberg Bags" task.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationDANESE, Giuseppe; FERNANDES, Eugénia; WATSON, Neil V.; ZILIOLI, Samuele - Testosterone and cortisol jointly predict the ambiguity premium in an Ellsberg-urns experiment. Frontiers in Behavioral Neuroscience. ISSN 1662-5153. Vol. 11, article n.º 68 (2017), 9 p.pt_PT
dc.identifier.doi10.3389/fnbeh.2017.00068pt_PT
dc.identifier.eid85018296758
dc.identifier.issn1662-5153
dc.identifier.pmid28484379
dc.identifier.urihttp://hdl.handle.net/10400.14/22490
dc.identifier.wos000400103800001
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherFrontiers Mediapt_PT
dc.relationL-G0029
dc.relation0194522
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectTestosteronept_PT
dc.subjectCortisolpt_PT
dc.subjectAmbiguitypt_PT
dc.subjectEllsberg paradoxpt_PT
dc.subjectDual hormone hypothesispt_PT
dc.titleTestosterone and cortisol jointly predict the ambiguity premium in an Ellsberg-urns experimentpt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.titleFrontiers in Behavioral Neurosciencept_PT
oaire.citation.volume11
person.familyNameDanese
person.familyNameFernandes
person.familyNameWatson
person.givenNameGiuseppe
person.givenNameEugénia
person.givenNameNeil
person.identifier401306
person.identifier405607
person.identifier.ciencia-idC715-8C4A-AC3D
person.identifier.orcid0000-0001-6697-6370
person.identifier.orcid0000-0002-4547-6358
person.identifier.orcid0000-0002-1709-4889
person.identifier.ridR-7195-2017
person.identifier.scopus-author-id56769577700
person.identifier.scopus-author-id7201757542
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication29b91b04-6ccd-47fe-8114-279fbb9c0941
relation.isAuthorOfPublicationa63a8fe0-8b4b-4cfd-aa71-3ffd39b24bb7
relation.isAuthorOfPublication3b78a991-e9ea-4ca1-bf63-cd261195f4fd
relation.isAuthorOfPublication.latestForDiscoverya63a8fe0-8b4b-4cfd-aa71-3ffd39b24bb7

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