The dual‐hormone hypothesis suggests that testosterone is positively associated with status‐seeking tendencies such as aggression and dominance, particularly in individuals with low levels of cortisol. Although recent research supports the dual‐hormone hypothesis, its boundary conditions under which the dual‐hormone interaction is likely to emerge are not clearly understood. In the present study (N = 153), the dual‐hormone hypothesis was empirically tested in the context of an economic game that included a decision whether to dominate another individual. We also examined whether the dual‐hormone interaction is more likely to be found in individuals who are chronically prone to dominance tendencies. Results revealed a significant testosterone × cortisol interaction in line with the dual‐hormone hypothesis. Additionally, the testosterone × cortisol interaction was only significant in individuals with a high level of chronic dominance. Overall, the present work suggests that chronic personality tendencies should be taken into account in order to explore (the boundary conditions) of hormone‐behavior associations. Aggr. Behav. 43:85–92, 2017. © 2016 Wiley Periodicals, Inc.