Ovulatory shift, hormonal changes, and no effects on incentivized decision-making

Miloš Fišar, Lubomir Cingl, Tommaso Reggiani (), Eva Kundtová Klocová, Radek Kundt, Jan Krátký, Katarína Kostolanská, Petra Bencúrová, Marie Kudličková Pešková and Klára Marečková

Journal of Economic Psychology, 2023, vol. 98, issue C

Abstract: Employing an incentivized controlled lab experiment, we investigate the effects of ovulatory shift on salient behavioral outcomes related to (i) risk preferences, (ii) rule violation, and (iii) exploratory attitude. As evolutionary psychology suggests, these outcomes may play an important role in economic decision-making and represent behavioral aspects that may systematically vary over the menstrual cycle to increase the reproductive success. Exploiting a within-subjects design, 124 naturally cycling females participated in experimental sessions during their ovulation and menstruation, the phases between which the difference in the investigated behavior should be the largest. In each session, hormonal samples for cortisol, estradiol, and testosterone were collected. The group of women was also contrasted against an auxiliary reference group composed of 47 males, who are not subject to hormonal variations of this nature. Our results reveal no systematic behavioral differences between the ovulation and menstruation phases.

Keywords: Hormonal cycle; Ovulatory shift hypothesis; Risk preferences; Rule violation; Exploratory attitude (search for similar items in EconPapers)
JEL-codes: C91 D81 J16 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:98:y:2023:i:c:s0167487023000570

DOI: 10.1016/j.joep.2023.102656

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