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Although testosterone is thought to induce antisocial and aggressive behavior, research on social economic interactions has associated it with prosocial and affiliative behavior. Here, we investigated the effects of testosterone on social distance-dependent generosity in an economic discounting task where participants chose between selfish and generous alternatives. We administered testosterone gel or placebo to men in a double-blind, randomized design and measured how willing they were to share rewards with close and distant others. Across two studies (total n = 174), testosterone administration consistently increased social discounting, that is participants became more selfish, particularly with regard to distant others (vs. close others). This effect was not explained by testosterone-induced increases in social distance perception. Our findings provide causal evidence that-testosterone reduces generosity in human economic decision-making. Moreover, they suggest that the valuation and the perception of social distance are independently affected by testosterone.

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There is increasing interest in the role played by testosterone in economic decision-making and social cognition. However, despite the growing body of findings in this field of research, no empirical study to date has tested whether testosterone modulates decision-making when an asymmetrically dominated decoy option is introduced in a choice set. Within a choice set that comprises two options, an asymmetrically dominated decoy option is a third option that, when introduced in the choice set, is much worse than one of the existing options, but comparable to the other existing option. Introduction of a decoy option leads to a preference toward the dominating option (i.e., decoy effect). Healthy male participants (n = 63) received a single-dose of 150 mg testosterone gel in a double-blind, placebo-controlled, between-subjects design. At 180 min post-administration, participants took part in a decision-making task to elicit decoy effect. Results showed that participants in the testosterone group made less consistent choices and more target choices (i.e., decoy effect) than participants in the placebo group. These findings are interpreted in light of the dual-process theory and are in line with existing evidence suggesting that testosterone promotes more intuitive and automatic judgments in human decision-making.