Skip to main content
Log in

2D:4D, Optimism, and Risk Taking

  • Published:
Current Psychology Aims and scope Submit manuscript

Abstract

Testosterone has been associated with a wide range of behaviors. Digit ratio (2D:4D), a somatic marker of prenatal testosterone, has been associated with risk taking, but the findings are inconsistent. The present study sought to investigate an interactionist model combining biological and personality factors in explaining risk taking. Power has been previously found to moderate the relationship between 2D:4D and risk taking. It has also been suggested that optimism plays a mediating role in the relationship between power and risk taking. In light of these interconnections, the present study explored the interaction between 2D:4D and optimism as a predictor of self-reported risk taking. Two hundred and eleven participants (102 men and 109 women) completed self-report measures of optimism and risk taking, and their prenatal testosterone was estimated by left and right 2D:4D ratios. Moderated regression analysis showed that optimism moderated the association between left 2D:4D and general risk taking, with men and women taking more risk with lower 2D:4D and lower optimism levels. Further moderated regression analysis, including participants’ sex, revealed that optimism moderated the association between right 2D:4D and financial risk taking, but only in women, exhibiting more financial risk taking with lower 2D:4D but higher optimism levels.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2

Similar content being viewed by others

References

  • Aiken, L. S., & West, S. G. (1991). Multiple regression: Testing and interpreting interactions. Newbury Park: Sage.

    Google Scholar 

  • Anderson, C., & Galinsky, A. D. (2006). Power, optimism, and risk-taking. European Journal of Social Psychology, 36, 511–536.

    Article  Google Scholar 

  • Apicella, C. L., Dreber, A., Campbell, B., Gray, P. B., Hoffman, M., & Little, A. C. (2008). Testosterone and financial risk preferences. Evolution and Human Behavior, 29, 384–390.

    Article  Google Scholar 

  • Branãs-Garza, P., & Rustichini, A. (2011). Organizing effects of testosterone and economic behavior: Not just risk taking. PloS One, 6, e29842.

    Article  PubMed  PubMed Central  Google Scholar 

  • Brookes, H., Neave, N., Hamilton, C., & Fink, B. (2007). Digit ratio (2D:4D) and lateralization for numerical quantification. Journal of Individual Differences, 28, 55–63.

    Article  Google Scholar 

  • Burke, K. L., Joyner, A. B., Czech, D. R., & Wilson, M. J. (2000). An investigation of concurrent validity between two optimism/pessimism questionnaires: The life orientation test-revised and the optimism/pessimism scale. Current Psychology, 19, 129–136.

    Article  Google Scholar 

  • Byrnes, J. P., Miller, D. C., & Schafer, W. D. (1999). Gender differences in risk taking: A meta-analysis. Psychological Bulletin, 125, 367–383.

    Article  Google Scholar 

  • Campbell, B. C., Dreber, A., Apicella, C. L., Eisenberg, D. T. A., Gray, P. B., Little, A. C., Garcia, J. R., Zamore, R. S., & Lum, J. K. (2010). Testosterone exposure, dopaminergic reward, and sensation-seeking in young men. Physiology & Behavior, 99, 451–456.

    Article  Google Scholar 

  • Chang, E. C., Maydeu-Olivares, A., & D’Zurilla, T. J. (1997). Optimism and pessimism as partially independent constructs: Relationship to positive and negative affectivity and psychological well-being. Personality and Individual Differences, 23, 433–440.

    Article  Google Scholar 

  • Charness, G., & Gneezy, U. (2012). Strong evidence for gender differences in risk taking. Journal of Economic Behavior & Organization, 83, 50–58.

    Article  Google Scholar 

  • Coates, J. M., & Herbert, J. (2008). Endogenous steroids and financial risk taking on a London trading floor. Proceedings of the National Academy of Sciences in the United States of America, 105, 6167–6172.

    Article  Google Scholar 

  • Coates, J. M., Gurnell, M., & Rustichini, A. (2009). Second-to-fourth-digit ratio predicts success among high frequency financial traders. Proceedings of the National Academy of Sciences USA, 106, 623–628.

    Article  Google Scholar 

  • Coates, J. M., Gurnell, M., & Sarnyai, Z. (2010). From molecule to market: Steroid hormones and financial risk-taking. Philosophical Transactions: Biological Sciences, 365, 331–343.

    Article  Google Scholar 

  • Cueva, C., Roberts, R. E., Spencer, T., Rani, N., Tempest, M., Tobler, P. N., Herbert, J., & Rustichini, A. (2015). Cortisol and testosterone increase financial risk taking and may destabilize markets. Scientific Reports, 5, 1–16.

    Article  Google Scholar 

  • Derntl, B., Pintzinger, N., Kryspin-Exner, I., & Schöpf, V. (2014). The impact of sex hormone concentrations on decision-making in females and males. Frontiers in Neuroscience, 8, 1–10.

    Article  Google Scholar 

  • Dohmen, T., Falk, A., Huffman, D., Sunde, U., Schupp, J., & Wagner, G. G. (2011). Individual risk attitudes: Measurement, determinants, and behavioral con-sequences. Journal of the European Economic Association, 9, 522–550.

    Article  Google Scholar 

  • Dreber, A., & Hoffman, M. (2007). Risk preferences are partly predetermined. Mimeo: Stockholm School of Economics.

    Google Scholar 

  • Emerson, R. M. (1962). Power dependence relations. American Sociological Review, 27, 31–41.

    Article  Google Scholar 

  • Evans, K. L., & Hampson, E. (2014). Does risk-taking mediate the relationship between testosterone and decision-making on the Iowa gambling task? Personality and Individual Differences, 61, 57–62.

    Article  Google Scholar 

  • French, J., & Raven, B. (1959). The bases of social power. In D. Cartwright (Ed.), Studies in social power (pp. 150–165). Ann Arbor: Institute for Social Research.

    Google Scholar 

  • Geschwind, N., & Behan, P. (1982). Left-handedness: Association with immune disease, migraine and developmental learning disorder. Proceedings of the National Academy of Sciences of the USA, 79, 5097–5100.

    Article  PubMed  Google Scholar 

  • Geschwind, N., & Galaburda, A. M. (1987). Cerebral lateralization. Cambridge: MIT Press.

    Google Scholar 

  • Goudriaan, A. E., Lapauw, B., Ruige, J., Feyen, E., Kaufman, J. M., Brand, M., & Vingerhoets, G. (2010). The influence of high-normal testosterone levels on risk-taking in healthy males in a 1-week letrozole administration study. Psychoneuroendocrinology, 35, 1416–1421.

    Article  PubMed  Google Scholar 

  • Hayes, A. F. (2013). Introduction to mediation, moderations, and conditional process analysis. New York: The Guilford Press.

    Google Scholar 

  • Hönekopp, J. (2011). Relationships between digit ratio 2D:4D and self-reported aggression and risk taking in an online study. Personality and Individual Differences, 51, 77–80.

    Article  Google Scholar 

  • Jibeen, T. (2014). Personality traits and subjective well-being: Moderating role of optimism in university employees. Social Indicators Research, 118, 157–172.

    Article  Google Scholar 

  • Johnson, D. D. P., McDermott, R., Barrett, E. S., Cowden, J., Wrangham, R., Mclntyre, M. H., & Rosen, S. P. (2006). Overconfidence in wargames: Experimental evidence on expectations, aggression, gender and testosterone. Procedings of the Royal Society – B, 273, 2513–2520.

    Article  Google Scholar 

  • Kandasamy, N., Hardy, B., Page, L., Schaffner, M., Graggaber, J., Powlson, A. S., Fletcher, P. C., Gurnell, M., & Coates, J. (2014). Cortisol shifts financial risk preferences. Proceedings of the National Academy of Sciences, 111, 3608–3613.

    Article  Google Scholar 

  • Keltner, D., Gruenfeld, D. H., & Anderson, C. (2003). Power, approach, and inhibition. Psychological Review, 110, 265–284.

    Article  PubMed  Google Scholar 

  • Kemper, C. J., & Schwerdtfeger, A. (2008). Comparing different methods of digit ratio (2D:4D) measurement. American Journal of Human Biology, 21, 188–191.

    Article  Google Scholar 

  • Kim, Y., Kim, K., & Kim, T. H. (2014). Domain specific relationships of 2D:4D digit ratio in risk perception and risk behavior. The Journal of General Psychology, 141, 373–392.

    Article  PubMed  Google Scholar 

  • Lerner, J. S., & Keltner, D. (2001). Fear, anger, and risk. Journal of Personality and Social Psychology, 81, 146–159.

    Article  PubMed  Google Scholar 

  • Lutchmaya, S., Baron-Cohen, S., Raggatt, P., Knickmeyer, R., & Manning, J. T. (2004). 2nd to 4th digit ratios, fetal testosterone, and estradiol. Early Human Development, 77, 23–28.

    Article  PubMed  Google Scholar 

  • Maner, J. K., Gailliot, M. T., Butz, D. A., & Peruche, B. M. (2007). Power, risk, and the status quo: Does power promote riskier or more conservative decision-making? Personality and Social Psychology Bulletin, 33, 451–462.

    Article  PubMed  Google Scholar 

  • Manning, J. T. (2002). Digit ratio: A pointer to fertility, behavior, and health. New Brunswick: Rutgers University Press.

    Google Scholar 

  • Manning, J. T. (2011). Resolving the role of prenatal sex steroids in the development of digit ratio. Proceedings of the National Academy of Sciences, 108, 16143–16144.

    Article  Google Scholar 

  • Mazur, A., & Booth, A. (1998). Testosterone and dominance in men. Behavioral and Brain Sciences, 21, 353–363.

    Article  PubMed  Google Scholar 

  • Mehta, P. H., Josephs, R. A., (2010) Testosterone and cortisol jointly regulate dominance: Evidence for a dual-hormone hypothesis. Hormones and Behavior, 58(5), 898–906.

  • Mehta, P. H., Welker, K. M., Zilioli, S., & Carre, J. M. (2015). Testosterone and cortisol jointly modulate risk-taking. Psychoneuroendocrinology, 56, 88–99.

    Article  PubMed  Google Scholar 

  • Millet, K. (2011). An interactionist perspective on the relation between 2D:4D and behavior: An overview of (moderated) relationships between 2D:4D and economic decision making. Personality and Individual Differences, 51, 397–401.

    Article  Google Scholar 

  • Nettle, D. (2004). Adaptive illusions: Optimism, control and human rationality. In D. Evans & P. Cruse (Eds.), Emotion, evolution and rationality. Oxford: Oxford University Press.

    Google Scholar 

  • Nicholls, M. E. R., Orr, C. A., Yates, M., & Loftus, A. M. (2008). A new means of measuring index/ring finger (2D:4D) ratio and its association with gender and hand preference. Laterality, 13, 71–91.

    Article  PubMed  Google Scholar 

  • Oliveira, R. (2004). Social modulation of androgens in vertebrates: Mechanisms and function. Advances in the Study of Behavior, 34, 165–239.

    Article  Google Scholar 

  • Ortner, G. R., Wibral, M., Becker, A., Dohmen, T., Klingmüller, D., Falk, A., & Weber, B. (2013). No evidence for an effect of testosterone administration on delay discounting in male university students. Psychoneuroendocrinology, 38, 1814–1818.

    Article  PubMed  Google Scholar 

  • Pietruska, K., & Armony, J. L. (2013). Differential effects of trait anger on optimism and risk behavior. Cognition and Emotion, 27, 318–325.

    Article  PubMed  Google Scholar 

  • Powell, M., & Ansic, D. (1997). Gender differences in risk behaviour in financial decision-making: An experimental analysis. Journal of Economic Psychology, 18(605), 628.

    Google Scholar 

  • Reavis, R., & Overman, W. H. (2001). Adult sex differences on a decision-making taskpreviously shown to depend on the orbital prefrontal cortex. Behavioral Neuroscience, 115, 196–206.

    Article  PubMed  Google Scholar 

  • Robertson, J., Zhang, W., Liu, J. J., Muir, K. R., Maciewicz, R. A., & Doherty, M. (2008). Radiographic assessment of the index to ring finger ratio (2D:4D) in adults. Journal of Anatomy, 212, 42–48.

    PubMed  PubMed Central  Google Scholar 

  • Ronay, R., & von Hippel, W. (2010). Power, testosterone, and risk-taking. Journal of Behavioral Decision Making, 23, 473–482.

    Article  Google Scholar 

  • Rosenblitt, J. C., Soler, H., Johnson, S. E., & Quadagno, D. M. (2001). Sensation seeking and hormones in men and women: Exploring the link. Hormones and Behavior, 40, 396–402.

    Article  PubMed  Google Scholar 

  • Rosvall, K. A., Burns, C. B., Barske, J., Goodson, J. L., Schlinger, B. A., Sengelaub, D. R., & Ketterson, E. D. (2012). Neural sensitivity to sex steroids predicts individual differences in aggression: Implications for behavioural evolution. Proceedings of the Royal Society B: Biological Sciences, 279, 3547–3555.

    Article  PubMed  Google Scholar 

  • Sapienza, P., Zingales, L., & Maestripieri, D. (2009). Gender differences in financial risk aversion and career choices are affected by testosterone. Proceedings of the National Academy of Sciences in the United States of America, 106, 15268–15273.

    Article  Google Scholar 

  • Slovic, P. (1972). Information procession, situation specificity, and the generality of risk-taking behavior. Journal of Personality and Social Psychology, 22, 128–134.

    Article  Google Scholar 

  • Stanton, S. J., Liening, S. H., & Schultheiss, O. C. (2011a). Testosterone is positively associated with risk taking in the Iowa gambling task. Hormones and Behavior, 59, 252–256.

    Article  PubMed  Google Scholar 

  • Stanton, S. J., O’Dhaniel, A., McLaurin, R. E., Kuhn, C. M., LaBar, K. S., Platt, M. L., & Huettel, S. A. (2011b). Low-and high-testosterone individuals exhibit decreased aversion to economic risk. Psychological Science, 22, 447–453.

    Article  PubMed  PubMed Central  Google Scholar 

  • Stinerock, R., Stern, B., & Solomon, M. (1991). Sex and money: Gender differences in the use of surrogate consumers for financial decision making. Journal of Professional Services Marketing, 7, 167–182.

    Article  Google Scholar 

  • Tiger, L. (1979). Optimism: The biology of hope. New York: Simon & Schuster.

    Google Scholar 

  • Trivers, R. L. (2000). The elements of a scientific theory of self deception. Annals of the New York Academy of Sciences, 907, 114–131.

    Article  PubMed  Google Scholar 

  • Van Honk, J., Schutter, D. J., Hermans, E. J., Putman, P., Tuiten, A., & Koppeschaar, H. (2004). Testosterone shifts the balance between sensitivity for punishment and reward in healthy young women. Psychoneuroendocrinology, 29, 937–943.

    Article  PubMed  Google Scholar 

  • Vermeersch, H., T'sjoen, G., Kaufman, J. M., & Vincke, J. (2008). The role of testosteronein aggressive and non-aggressive risk-taking in adolescent boys. Hormones and Behavior, 53, 463–471.

    Article  PubMed  Google Scholar 

  • White, R. E., Thornhill, S., & Hampson, E. (2006). Entrepreneurs and evolutionary biology: The relationship between testosterone and new venture creation. Organizational Behavior and Human Decision Processes, 100, 21–34.

    Article  Google Scholar 

  • Zethraeus, N., Kocoska-Maras, L., Ellingsen, T., von Schoultz, B., Hirschberg, A. L., & Johannesson, M. (2009). A randomized trial of the effect of estrogen and testosterone on economic behavior. Proceedings of the National Academy of Sciences of the United States of America, 106, 6535–6538.

    Article  PubMed  PubMed Central  Google Scholar 

  • Zuckerman, M., & Kuhlman, D. M. (2000). Personality and risk-taking: Common biosocial factors. Journal of Personality, 68, 999–1028.

    Article  PubMed  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Efrat Barel.

Ethics declarations

Conflict of Interests

Efrat Barel has no conflict of interest in the conduct and reporting of the research.

Ethical Approval

The study was approved by the institutional review boards (IRBs) of the Max Stern Academic College of Emek Yezreel. "All procedures performed in the study involving human participants were in accordance with the ethical standards of the institutional and/or national research committee and with the 1964 Helsinki declaration and its later amendments or comparable ethical standards".

Informed Consent

Informed consent was obtained from all individual participants included in the study.

The present manuscript has not been previously published or simultaneously submitted elsewhere.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Barel, E. 2D:4D, Optimism, and Risk Taking. Curr Psychol 38, 204–212 (2019). https://doi.org/10.1007/s12144-017-9598-4

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s12144-017-9598-4

Keywords

Navigation