This is a rare opinion for me, but I tend to see this as an evolutionary holdover from our distant past (which is probably is stronger in guys who grow up playing sports). Men were the members of the tribe who fought other tribes, who hunted animals that could sometimes kill them, and who sometimes had to fight other men for sexual access. This requires acting in the moment without a lot of deliberation.
In essence, men are taking more risks because they are operating in a gut-level pre-conscious mode, and at this level the prefrontal cortex is not engaged, so there is little or no consideration of possible negative outcomes. This was essential 10,00 years ago - not so much now.
The women, on the other hand, seem to be deliberating, which allows them to consider outcomes, making them much less likely to take risks. From an evolutionary perspective, women needed to be deliberative about choosing fathers for their children, as well as playing the interpersonal politics of tribal life. It would seem women have maintained these skills over the centuries - and while men have always had that capability, it was not until we became less nomadic with the rise of agriculture that men became more deliberative. It's interesting that men still retain this tendency under stress to take more risks.
Here is the abstract:
Abstract
Years of research have shown that stress
influences cognition. Most of this research has focused on how stress
affects memory
and the hippocampus. However, stress also affects
other regions involved in cognitive and emotional processing, including
the prefrontal cortex, striatum, and insula. New
research examining the impact of stress on decision processes reveals
two
consistent findings. First, acute stress enhances
selection of previously rewarding outcomes but impairs avoidance of
previously
negative outcomes, possibly due to stress-induced
changes in dopamine in reward-processing brain regions. Second, stress
amplifies
gender differences in strategies used during risky
decisions, as males take more risk and females take less risk under
stress.
These gender differences in behavior are associated
with differences in activity in the insula and dorsal striatum, brain
regions involved in computing risk and preparing to
take action.
The full article is behind a paywall, so it's not available. Here is a pretty lame summary from the
Toronto Star.
Published On Thu Mar 01 2012 | Debra Black
Stress increases the differences in how men and women think about risk, according to a newly published article in Current Directions in Psychological Science.
The article reviewed a number of previous studies that looked at how
stress affects people when they’re making a decision. It seems that
stress affects the way people assess risk and reward.
When it comes to stress and gender there are some surprising differences, said Mara Mather,
a professor of gerontology and psychology at the University of Southern
California who co-wrote the paper with Nichole R. Lighthall, a PhD
student in her lab.
According to Mather, when men are under stress they are willing to
take more risks and make decisions at a much faster pace than women.
When women are under stress they tend to take fewer risks, choose more
conservatively and take much longer to decide.
These differences were most surprising for Mather. “We almost never
see gender differences in our lab, but these gender differences were
really striking.…In these studies we found males and females didn’t
differ in laboratory tasks when they weren’t under stress. But when they
were under stress they diverged.”
“Researchers originally thought about decision-making as something
that is rational and cold and logical,” she said, pointing to the kinds
of decision-making tools people use like a list of pros and cons.
“But it turns out emotion plays a pretty huge role in our decision making process.”
Mather and Lighthall also found in their overview that while under
stress people pay more attention to the upside of a possible outcome.
For example when people are put under stress — by holding their hand in
ice water for a few minutes — they pay attention to positive information
and discount negative feedback, Mather explained.
This means that if someone is trying to make a decision — about
changing jobs for example — and is feeling stressed by it, he or she
might weigh an increase in salary over a bad commute when deciding
whether to take the new job, she said.
What’s really interesting to Mather is how this all relates to
previous research on drug addiction and how people who were under stress
found it harder to avoid consuming a drug and this often lead to
relapsing.
“One thing suggested by this body of work is that under stress things
that are more rewarding like having a cigarette or having a drink have
more of a pull. They are even more attractive than when not under
stress.”
Just why this is the case remains unclear. But Mather suggests it may
have something to do with dopamine, which plays an important role in
the reward circuitry of the brain. Under stress it increases.
“It’s very interesting because it indicates there is some kind of
amplification in these reward processes that make reward substances feel
even more rewarding,” she said.