risk-taking
edyong | December 8, 2009What do you think a group of women would do if they were given a dose of testosterone before playing a game? Our folk wisdom tells us that they would probably become more aggressive, selfish or antisocial. Well, that's true... but only if they think they've been given testosterone.
If they don't know whether they've been given testosterone or placebo, the hormone actually has the opposite effect to the one most people would expect - it promotes fair play. The belligerent behaviour stereotypically linked to testosterone only surfaces if people think they've been given hormone, whether they…
edyong | April 7, 2009Some people go out of their way to help their peers, while others are more selfish. Some lend their trust easily, while others are more suspicious and distrustful. Some dive headlong into risky ventures; others shun risk like visiting in-laws. There's every reason to believe that these differences in behaviour have biological roots, and some studies have suggested that they are influenced by sex hormones, like testosterone and oestrogen.
It's an intriguing idea, not least because men and women have very different levels of these hormones. Could that explain differences in behaviour between…
edyong | March 28, 2009
Animals have distinct personalities and temperaments, but why would evolution favour these over more flexible and adaptible mindsets? New game theory models show that animal personalities are a natural progression from the choices they make over how to live and reproduce.
Any pet owner, wildlife photographer or zookeeper will tell you that animals have distinct personalities. Some are aggressive, others are docile; some are bold, others are timid.
In some circles, ascribing personalities to animals is still a cardinal sin of biology and warrants being branded with a scarlet A (for…
ddobbs | March 10, 2009Back in October a study found that high testosterone levels were associated with higher levels of financial risk-taking. Now comes the blowback, as Andrew Sullivan notes:
Tina Beatie attacks testosterone:
...it is interesting to note that Pope Benedict has recently suggested that there is a close connection between original sin and the greed that has created the current economic crisis. It is also notable that the credit crunch has been created by a profession that is almost exclusively male. In the line-up of failed bankers, not a single woman's name has appeared. Male greed has proven…
edyong | October 12, 2008
It's mid-October. For most of us, our New Year's resolutions have long been forgotten and our bad habits remain frustratingly habitual. The things that are bad for us often feel strongly compelling, be they high-fat foods, gambling or alcohol. And nowhere is the problem of addiction more widespread, serious and dangerous than the case of cigarette smoking.
Smoking is the leading preventable cause of death in the developed world, and in the UK, it kills five times more people than all non-medical causes combined. The dangers of smokers are both well-established and well-known, and…
edyong | September 25, 2008The art of auctioning is an ancient one. The concept of competitively bidding for goods has lasted from Roman times, when spoils of war were divvied up around a planted spear, to the 21st century, when the spoils of the loft are sold through eBay. But despite society's familiarity with the concept, people who take part in auctions still behave in a strange way - they tend to overbid, offering more money than what they actually think an object is worth.
Some economists have suggested that people overbid because they are averse to risk. They would rather make spend more money to be sure of a…
edyong | April 14, 2008
Financial trading is really risky business for individuals and economies alike. Millions of pounds and dollars rest on the fast decisions of stressed people, working under extreme pressure. With such high stakes, it's worth remembering that traders, regardless of their intellect or experience, are as fallible as the rest of us and their brains and bodies are influenced by the same ensemble of hormones.
Testosterone is one of these, and it's of particular importance to traders for it can influence a person's confidence and attitudes to risk during competitive encounters. While it seems…
edyong | March 26, 2008Would you gamble on a safe bet for the promise of something more? Would you risk losing everything for the possibility of greater rewards? In psychological experiments, humans tend to play it safe when we stand to gain something - we're more likely to choose a certain reward over a larger but riskier one. Now, we're starting to understand how our two closest relatives deal with risk - bonobos, like us, tend to be risk-averse while chimpanzees usually play the odds.
Sarah Heilbronner from Harvard University studied the attitudes of five chimps and five bonobos to risky decisions. All the…