Abstract
In this study we examine the relationship between risk taking, impatience and facial masculinity in expert chess players. We combine a large panel-dataset from high-level chess games with measures of both risk taking and impatience in chess with facial masculinity, a proxy for testosterone exposure in puberty. We find that male players with high pubertal testosterone exposure are more impatient by playing shorter chess games. For female players, we find that facial masculinity is negatively correlated with risk taking.