Sex hormones and competitive bidding

Arbeitspapier

We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Bids are significantly positively correlated and profits are significantly negatively correlated with basal salivary progesterone but only for females who do not use hormonal contraceptives. Surprisingly, we have null findings for basal testosterone, estradiol, and cortisol for both males and females. We show that our finding for progesterone is not mediated by risk aversion or bidding mistakes. No hormone responds to total profits in the auctions except for a small positive response of the stress hormone cortisol in males.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 14-4

Classification and Topics

• Classification: Wirtschaft ; Noncooperative Games ; Design of Experiments: Laboratory, Individual ; Design of Experiments: Laboratory, Group Behavior ; Auctions ; Criteria for Decision-Making under Risk and Uncertainty ; Neuroeconomics
• Subject: auctions ; gender ; competition ; aggression ; risk-taking ; endocrinological economics

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Schipper, Burkhard C.
• Event: Veröffentlichung
• (who): University of California, Department of Economics
• (where): Davis, CA
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/109679
• Last update: 10.03.2025, 11:42 AM CET