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

• Published in: Journal of economic psychology Vol. 98; p. 102656
• Main Authors: Fišar, Miloš, Cingl, Lubomír, Reggiani, Tommaso, Kundtová Klocová, Eva, Kundt, Radek, Krátký, Jan, Kostolanská, Katarína, Bencúrová, Petra, Pešková, Marie Kudličková, Marečková, Klára
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.10.2023
• Subjects: Exploratory attitude; Hormonal cycle; Ovulatory shift hypothesis; Risk preferences; Rule violation; Exploratory attitude; 2970; Hormonal cycle; Rule violation; C91; Risk preferences; D81; Ovulatory shift hypothesis; 2260; J16
• ISSN: 0167-4870; 1872-7719
• DOI: 10.1016/j.joep.2023.102656

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. •We investigate the effects of ovulatory shift on salient behavioral outcomes.•Within-subject study with free cycling women during their ovulation and menstruation.•We measured changes in their risk-taking, rule-violating, and exploring behaviors.•Results reveal no systematic differences between ovulation and menstruation.