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Although prior research has demonstrated that ovarian hormones, and estradiol (E2) in particular, contribute to increased risk aversion in females, the receptor mechanisms underlying these effects remain unknown. Further, it is unclear what role the other key ovarian hormone progesterone (P4) plays in female risk aversion. Accordingly, the current set of experiments were designed to address these gaps in knowledge of the hormonal basis of female risk-taking behavior. Female rats were trained in a punishment-based risky decision-making task, ovariectomized, and then retested in the decision-making task. Rats were then treated with estradiol benzoate (Experiment 1; EB), estrogen receptor (ER) agonists (Experiment 2) or progesterone (Experiment 3; P4) after daily test sessions for 7 days. Consistent with prior work, OVX increased risk\u00a0taking, and EB administration attenuated this effect. Administration of an ER\u03b1 agonist, either alone or with an ER\u03b2 agonist, similarly mitigated the effects of OVX on risk\u00a0taking. In contrast, the ER\u03b2 agonist alone was ineffective in restoring risk aversion in OVX females. Control tests confirmed that the effects of the ER\u03b1 agonist on risk\u00a0taking were not due to altered food motivation or footshock sensitivity. Finally, P4 administration did not alter risk\u00a0taking in OVX females and did not inhibit EB\u2019s behavioral effects. Collectively, these data reveal that E2 is the critical ovarian hormone that promotes female risk aversion; further, they suggest that the likely mechanism by which E2 influences risk aversion in females is through activation of ER\u03b1.<\/jats:p>","DOI":"10.1038\/s41386-026-02347-9","type":"journal-article","created":{"date-parts":[[2026,1,26]],"date-time":"2026-01-26T04:54:53Z","timestamp":1769403293000},"page":"968-978","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":3,"title":["The role of ovarian hormones in risk aversion in female rats"],"prefix":"10.1038","volume":"51","author":[{"given":"Leah M.","family":"Truckenbrod","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Nadia","family":"Carlos","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Megan","family":"Kelly","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Merrick","family":"Garner","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Madeline","family":"Streifer","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Andrea C.","family":"Gore","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-5644-2316","authenticated-orcid":false,"given":"Caitlin A.","family":"Orsini","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"297","published-online":{"date-parts":[[2026,1,26]]},"reference":[{"key":"2347_CR1","doi-asserted-by":"publisher","first-page":"50","DOI":"10.1037\/bne0000111","volume":"130","author":"CA Orsini","year":"2016","unstructured":"Orsini CA, Willis ML, Gilbert RJ, Bizon JL, Setlow B. 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