Choice can produce a negatively arousing cognitive conflict (called dissonance), which is thought to motivate the chooser to spread their preferences for the relevant options (called Spreading of Alternatives, or SA). The current work aimed to determine the relationship between HPA‐axis activity and both choice‐induced dissonance and its reduction (i.e. SA) among individuals with varying cultural backgrounds. European–Americans and Asians made a choice between two equally attractive CDs either in the presence of a cue indicative of social eyes (i.e. public‐choice condition) or in the absence thereof (i.e. private‐choice condition). As predicted, European–Americans and Asians showed a reliable SA primarily in the private and public choice conditions, respectively. Importantly, a sharp decline of salivary cortisol was observed over the span of 30 min, and, moreover, this decline was reliably predicted by the magnitude of SA regardless of either culture or the choice being private vs. public. These results suggest that although choice‐induced dissonance is too weak to elicit an HPA‐axis stress response, SA is associated with variability in the decline of salivary cortisol during the laboratory task. Copyright © 2015 John Wiley & Sons, Ltd.