Effects of hydrocortisone and yohimbine on decision-making under risk

Abstract

Introduction: Many studies have investigated the influence of stress on decision-making. However, results are equivocal and the exact role of increased noradrenaline and cortisol after stress remains unclear. Using pharmacological manipulation, we investigated the influence of noradrenergic and glucocorticoid activity on risky decision-making in a gambling task that included mixed-gamble trials (gains and losses are possible) and gain-only trials.

Methods and materials: One hundred-and-four healthy young men participated in our randomized, double-blind, placebo-controlled, between-group study. Participants were randomly assigned to one of four groups: (A) yohimbine, (B) hydrocortisone, (C) yohimbine and hydrocortisone, or (D) placebo. Frequency of risky choices, i.e., monetary risk taking, was the dependent variable. We also investigated the influence of hydrocortisone and yohimbine on loss aversion, which is the tendency to overweigh losses compared with gains.

Results: Participants chose the risky option less often after receiving hydrocortisone compared with no hydrocortisone. This effect was strongest in the gain-only trials. Yohimbine had no effect. Loss aversion was not affected by hydrocortisone or yohimbine.

Discussion: Decreased reward processing may explain the reduction of risk taking by hydrocortisone in gain-only trials. The effects of stress hormones on different decision-related constructs and processes hence require further investigation.

Keywords: Decision-making; Hydrocortisone; Risk taking; Stress; Yohimbine.