Baldwin Way, associate professor of psychology at The Ohio State University, thinks so.
Acetaminophen is commonly sold in the US under the brand name Tylenol, and is also included in many combination drugs, a list of which can be found at Acetaminophen - brand name list from Drugs.com .
I thought they would have at least taken the college students (usual suspects of experimentation at university labs) bungee jumping, but no they only asked them to rate how scary it sounded. Minus points to the researchers.
Tylenol does nothing for my headaches nor my risk aversion. Wish it did!
Yeah, Tylenol does very little for me. I rely on Excedrin way too much. It’s habit I need to break. 
I never take Tylenol. Bayer aspirin for me, and not very often at that.
I take acetaminophen much more frequently than I take ibuprofen these days. I find it is more effective for me with frequent sinus headaches and muscle spasm pain. Apparently, acetaminophen can have a very mild soporific effect, so I sometimes take it before bedtime if I have a headache. I definitely am not into risk and haven’t ever noticed that, but I’m going to think about that next time I take it.
Tylenol is not a sugar pill, for sure. That said, a slight increase in risk taking while blowing up a digital balloon while on Tylenol is infinitely better than risk of developing severe addiction while on opioid painkillers.
I always felt that it helped with sleep because I had less aches and pains I didn’t know I even had. But, aspirin free excedrin is way better at helping with my sleep and it has caffeine added. Go figure.
Tylenol (acetaminophen) has an anti-pyretic effect and pain relieving effect. It does not, however, have an anti-inflammatory effect. I usually take pain relievers for my back and neck pain, which is in part an inflammatory condition. So for me, Tylenol is not appropriate.
Tylenol can also adversely affect the liver, so anyone with any kind of liver problem should not take acetaminophen. It’s also contraindicated when consuming alcohol. People often recommend it to treat or prevent a hangover-this should be avoided. People with serious kidney issues should also stay away from it.
Have never heard about the “risky behavior” angle before.