Editorial: Decision-making under stress: the importance of cortico-limbic circuits

Stress Induces Contextual Blindness in Lotteries and Coordination Games

In this paper, we study how stress affects risk taking in three tasks: individual lotteries, Stag Hunt (coordination) games, and Hawk-Dove (anti-coordination) games. Both control and stressed subjects take more risks in all three tasks when the value of the safe option is decreased and in lotteries when the expected gain is increased. Also, subjects take longer to take decisions when stakes are high, when the safe option is less attractive and in the conceptually more difficult Hawk-Dove game. Stress (weakly) increases reaction times in those cases. Finally, our main result is that the behavior of stressed subjects in lotteries, Stag Hunt and Hawk-Dove are all highly predictive of each other (p-value < 0.001 for all three pairwise correlations). Such strong relationship is not present in our control group. Our results illustrate a "contextual blindness" caused by stress. The mathematical and behavioral tensions of Stag Hunt and Hawk-Dove games are axiomatically different, and we should expect different behavior across these games, and also with respect to the individual task. A possible explanation for the highly significant connection across tasks in the stress condition is that stressed subjects habitually rely on one mechanism to make a decision in all contexts whereas unstressed subjects utilize a more cognitively flexible approach.

Cortisol boosts risky decision-making behavior in men but not in women

Acute stress may escalate risky decision-making in men, while there is no such effect in women. Although first evidence links these gender-specific effects of stress to stress-induced changes in cortisol, whether elevated cortisol is indeed sufficient to boost risk-taking, whether a potential cortisol effect depends on simultaneous noradrenergic activation, and whether cortisol and noradrenergic activation exert distinct effects on risk-taking in men and women is unknown. In this experiment, we therefore set out to elucidate the impact of cortisol and noradrenergic stimulation on risky decision-making in men and women. In a fully-crossed, placebo-controlled, double-blind design, male and female participants received orally either a placebo, hydrocortisone, yohimbine, an alpha-2-adrenoceptor-antagonist leading to increased noradrenergic stimulation, or both drugs before completing the balloon analogue risk task, a validated measure of risk-taking. Overall, participants' choice was risk-sensitive as reflected in reduced responding in high- compared to moderate- and low-risk conditions. Cortisol, however, led to a striking increase in risk-taking in men, whereas it had no effect on risk-taking behavior in women. Yohimbine had no such effect and the gender-specific effect of cortisol was not modulated by yohimbine. Our data show that cortisol boosts risk-taking behavior in men but not in women. This differential effect of cortisol on risk-taking may drive gender differences in risky decision-making under stress.