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Proc Natl Acad Sci U S A. 2009 Apr 21;106(16):6535-8. doi: 10.1073/pnas.0812757106. Epub 2009 Apr 6.

A randomized trial of the effect of estrogen and testosterone on economic behavior.

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  • 1Department of Economics, Stockholm School of Economics, Box 6501, SE-113 83 Stockholm, Sweden.

Abstract

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.

PMID:
19366676
PMCID:
PMC2666090
DOI:
10.1073/pnas.0812757106
[PubMed - indexed for MEDLINE]
Free PMC Article
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