Testosterone & Risk Taking

While research has shown that men are more likely to engage in risk-taking behavior than women, researchers have had difficulty finding a direct correlation between testosterone and risk-taking behavior. While some of these differences between men and women may lie in the brain, recent research into the subject is beginning to establish such a link between testosterone and risk-taking behavior as well.

What Is Testosterone?

• Testosterone is an anabolic steroid and the male sex hormone. It is produced in the testes and the ovaries, and while women produce some testosterone, adult men produce up to 60 times more testosterone than adult women. As an anabolic steroid, testosterone increases protein production and is linked to the development of muscles. It is also responsible for both physical and psychological masculine characteristics such as the growth of body hair and dominance-seeking.

Men and Risk-Taking Behavior

• Studies have long shown that men are more likely than women to engage in risk-taking behavior. Men are more likely than women to drive a car under the influence of alcohol, drive more than 25 miles per hour over the speed limit and have unprotected sex. They are also more likely to gamble. Testosterone is linked with increased competitiveness and aggression as well as a reduction in fear, which explains why testosterone may influence a man's likelihood of engaging in risk-taking behavior.

Teenage Boys and Risk-Taking

• One study performed by the University of Ghent, Belgium, looked at whether or not testosterone played a role in the risk-taking behavior of teenage boys. The study found that boys with higher levels of testosterone were more likely to have friends who engaged in risk-taking behavior and to engage in risk-taking behavior themselves. Researchers concluded that testosterone levels influenced the interests of teenage boys, making them more predisposed to risk-taking behavior the higher the level of testosterone.

Testosterone and Financial Risk-Taking

• Another study performed by Harvard University and the Stockholm School of Economics looked at the link between testosterone and financial risk-taking. Researchers assessed participants' testosterone levels before having them engage in an investment game. The men with higher levels of testosterone invested more in the riskier investments than did the men with average testosterone levels.

  A study performed by Northwestern University and the University of Chicago showed that women with elevated levels of testosterone were also more likely to take financial risks.

Other Factors

• Many factors influence a person's likelihood of engaging in risk-taking behavior. Other studies have shown that men may be more likely to engage in risk-taking behavior because of differences in their brain structures. Societal factors are also at play. More research is needed to establish how and to what degree testosterone is an influence.