I found this article on Wikipedia and thought you guys might be interested in it. This is one of the reasons that I started Sly Bald Guys; to give guys confidence about being bald.
Article:
The psychological implications for individuals experiencing hair loss vary widely. The most significant effect is a loss of self-confidence. This is enhanced by an insecure or ambivalent attachment pattern.
Alopecia induced by cancer chemotherapy has been reported to cause changes in self-concept and body image. Body image does not return to the previous state after regrowth of hair for a majority of patients. In such cases, patients have difficulties expressing their feelings (what is called alexithymia) and may be more prone to avoiding family conflicts. Family therapy can help families to cope with these psychological problems if they arise.[4]
Psychological problems due to baldness, if present, are typically most severe at the onset of symptoms.[5]
Some balding men may feel proud of their baldness, feeling a kindred relationship with famous charismatic bald film actors such as Yul Brynner, Vin Diesel, Michael Chiklis, Telly Savalas, Ben Kingsley, Patrick Stewart, Danny DeVito, Bruce Willis, and politicians such as Abe Beame, who have been considered masculine and handsome in part because of their most obvious distinguishing feature. This is not yet true for women, as there are few female celebrities who are bald by choice, chemotherapy or genetics/environment.
Many companies have built a successful business selling products that reverse baldness, by allegedly regrowing hair, transplanting hair or selling hairpieces.
Original article:
http://en.wikipedia.org/wiki/Baldness
Here's another article that mentions the psychological implications of going bald.
Because of its perceived importance, anything that happens to our hair that we can’t control – falling out or turning grey, for instance – can be the source of much anxiety and in severe cases, can lead to depression.
I recommend reading the whole article.
Article:
http://healthatlarge.blogspot.com/2006/09/bald-truth-about-hair-loss.html