Individual differences in risk-propensity: Associations between personality and behavioral measures of risk

Physiology of Risk-Taking and Risk Management in Realistic Decision-Making Scenarios

Decisions under risk are a particular case of decisional skills taking place in complex and mostly unpredictable situations, where affective connotation of deciding is highly relevant. We aimed at investigating decisional processes under risk by outlining individual risk-taking (RT) and risk management (RM) attitudes via realistic decision-making and, in keeping with the risk-as-feeling hypothesis, at exploring implicit physiological correlates of such processes. 35 participants were presented with realistic situations where they had to make decisions by choosing between alternatives connoted by different levels of riskiness. Concurrently, autonomic physiological activation (cardiovascular and electrodermal activity) was recorded. Data analysis highlighted that: (i) participants showed higher propensity towards risk management than risk-taking; (ii) the propensity towards both risk taking and risk management was significantly determined by physiological markers of autonomic activity; and (iii) risk taking and risk management indices showed associations with different autonomic measures, respectively heart rate and skin conductance metrics.

Relationships between Personality Traits and Brain Gray Matter Are Different in Risky and Non-risky Drivers

Personality traits such as impulsivity or sensitivity to rewards and punishments have been associated with risky driving behavior, but it is still unclear how brain anatomy is related to these traits as a function of risky driving. In the present study, we explore the neuroanatomical basis of risky driving behavior and how the level of risk-taking influences the relationship between the traits of impulsivity and sensitivity to rewards and punishments and brain gray matter volume. One hundred forty-four participants with different risk-taking tendencies assessed by real-life driving situations underwent MRI. Personality traits were assessed with self-report measures. We observed that the total gray matter volume varied as a function of risky driving tendencies, with higher risk individuals showing lower gray matter volumes. Similar results were found for volumes of brain areas involved in the reward and cognitive control networks, such as the frontotemporal, parietal, limbic, and cerebellar cortices. We have also shown that sensitivity to reward and punishment and impulsivity are differentially related to gray matter volumes as a function of risky driving tendencies. Highly risky individuals show lower absolute correlations with gray matter volumes than less risk-prone individuals. Taken together, our results show that risky drivers differ in the brain structure of the areas involved in reward processing, cognitive control, and behavioral modulation, which may lead to dysfunctional decision-making and riskier driving behavior.

Local slow-wave activity over the right prefrontal cortex reveals individual risk preferences

In everyday life, we have to make decisions under varying degrees of risk. Even though previous research has shown that the manipulation of sleep affects risky decision-making, it remains unknown whether individual, temporally stable neural sleep characteristics relate to individual differences in risk preferences. Here, we collected sleep data under normal conditions in fifty-four healthy adults using a portable high-density EEG at participants' home. Whole-brain corrected for multiple testing, we found that lower slow-wave activity (SWA, an indicator of sleep depth) in a cluster of electrodes over the right prefrontal cortex (PFC) is associated with higher individual risk propensity. Importantly, the association between local sleep depth and risk preferences remained significant when controlling for total sleep time and for time spent in deep sleep, i.e., sleep stages N2 and N3. Moreover, the association between risk preferences and SWA over the right PFC was very similar in all sleep cycles. Because the right PFC plays a central role in cognitive control functions, we speculate that local sleep depth in this area, as reflected by SWA, might serve as a dispositional indicator of self-regulatory ability, which in turn reflects risk preferences.

Social Perception of Risk-Taking Willingness as a Function of Expressions of Emotions

Two studies showed that emotion expressions serve as cues to the expresser's willingness to take risks in general, as well as in five risk domains (ethical, financial, health and safety, recreational, and social). Emotion expressions did not have a uniform effect on risk estimates across risk domains. Rather, these effects fit behavioral intentions associated with each emotion. Thus, anger expressions were related to ethical and social risks. Sadness reduced perceived willingness to take financial (Study 1 only), recreational, and social risks. Happiness reduced perceived willingness to take ethical and health/safety risks relative to neutrality. Disgust expressions increased the perceived likelihood of taking a social risk. Finally, neutrality increased the perceived willingness to engage in risky behavior in general. Overall, these results suggest that observers use their naïve understanding of the meaning of emotions to infer how likely an expresser is to engage in risky behavior.

Engaging in Risky and Impulsive Behaviors to Alleviate Distress Mediates Associations Between Intolerance of Uncertainty and Externalizing Psychopathology

Despite increasing recognition that intolerance of uncertainty is a transdiagnostic dimension of psychopathology, very little research has investigated its relevance for externalizing psychopathology and related risky/impulsive behavior. Ninety-five unselected adults (ages 19-55, 53% men) recruited from the community completed a measure of intolerance of uncertainty, externalizing traits and problems, and risky/impulsive behavior. Higher levels of intolerance of uncertainty were associated with greater endorsement of externalizing symptoms (e.g., aggression, alcohol/marijuana use, problematic impulsivity) and last-month risky and impulsive behaviors. Relations between intolerance of uncertainty and externalizing symptoms/risky behaviors were mediated by a motivation to engage in these behaviors to avoid distress, but not by the motivation to experience pleasurable emotions. Findings suggest that difficulty tolerating uncertainty may confer risk for the externalizing spectrum of psychopathology by increasing the likelihood that an individual will engage in risky behaviors to alleviate distressing or unpleasant emotions.

Risk-taking unmasked: Using risky choice and temporal discounting to explain COVID-19 preventative behaviors

To reduce the spread of COVID-19 transmission, government agencies in the United States (US) recommended precautionary guidelines, including wearing masks and social distancing to encourage the prevention of the disease. However, compliance with these guidelines has been inconsistent. This correlational study examined whether individual differences in risky decision-making and motivational propensities predicted compliance with COVID-19 preventative behaviors in a sample of US adults (N = 404). Participants completed an online study from September through December 2020 that included a risky choice decision-making task, temporal discounting task, and measures of appropriate mask-wearing, social distancing, and perceived risk of engaging in public activities. Linear regression results indicated that greater temporal discounting and risky decision-making were associated with less appropriate mask-wearing behavior and social distancing. Additionally, demographic factors, including personal experience with COVID-19 and financial difficulties due to COVID-19, were also associated with differences in COVID-19 preventative behaviors. Path analysis results showed that risky decision-making behavior, temporal discounting, and risk perception collectively predicted 55% of the variance in appropriate mask-wearing behavior. Individual differences in general decision-making patterns are therefore highly predictive of who complies with COVID-19 prevention guidelines.

Private Long-Term Care Insurance Decision: The Role of Income, Risk Propensity, Personality, and Life Experience

The rising aging population contributes to increased caregiver burden and a greater need for long-term care services, thereby posing stronger financial burden. The current study aimed to examine the effect of income, risk-taking propensity, personality traits, and life experience on the ownership of and intention to own private long-term care insurance (LTCI). Primary data were collected from 1373 registered nurses with a minimum of two years of full-time working experience. Multinomial logistic regression was used to examine the relationships between ownership of LTCI and personal discretionary income, risk propensity, openness to experience, and life experience. Personal discretionary income was a crucial positive indicator in predicting ownership of LTCI. Higher risk-taking propensity was found to be negatively related to both currently own and future intention to own private LTCI. Participants who currently live with elders and who agree to caregiving responsibilities with government-provided cash allowance showed future intention to purchase LTCI. Little evidence was found for an association between life experience and future intention to own LTCI. Income, risk-taking propensity, and personality traits differ in their impact on ownership of and future intention to own LTCI. Our results provide policy makers with a better understanding of the forces driving demand in the private LTCI market, as well as the accompanying implications for public LTCI.

Variation in primate decision-making under uncertainty and the roots of human economic behaviour

Uncertainty is a ubiquitous component of human economic behaviour, yet people can vary in their preferences for risk across populations, individuals and different points in time. As uncertainty also characterizes many aspects of animal decision-making, comparative research can help evaluate different potential mechanisms that generate this variation, including the role of biological differences or maturational change versus cultural learning, as well as identify human-unique components of economic decision-making. Here, we examine decision-making under risk across non-human primates, our closest relatives. We first review theoretical approaches and current methods for understanding decision-making in animals. We then assess the current evidence for variation in animal preferences between species and populations, between individuals based on personality, sex and age, and finally, between different contexts and individual states. We then use these primate data to evaluate the processes that can shape human decision-making strategies and identify the primate foundations of human economic behaviour. This article is part of the theme issue 'Existence and prevalence of economic behaviours among non-human primates'.

Pathological risk-propensity typifies Mafia members' cognitive profile

Since the recruitment process, Italian Mafias impose on their members a strict code of conduct. These rigid rules regulate their private and public behavior, implying a total adhesion to the group's values. Such juridical and social aspects substantially distinguish organized crime (OC) from ordinary crime. It is still unknown whether these two categories of offenders also show distinctive cognitive traits. Here we investigated the frontal lobe cognitive functions of 50 OC prisoners from the Mafia and 50 non-OC prisoners based on the performance of 50 non-prisoner controls. We found that OC members were more likely to show pathological risk-propensity than non-OC prisoners. We interpret this finding as the result of the internal dynamics of Mafia groups. OC is a worldwide threat, and the identification of cognitive traits behind criminal behavior will help in devising focused prevention policies.

The Positive Impact of Task Familiarity, Risk Propensity, and Need For Cognition on Observed Timing Decisions in a Security Game

This paper addresses the role of personality characteristics in decisions on the timing of an action, such as in the context of security and safety choices. Examples of such decisions include when to check log files for intruders and when to monitor financial accounts for fraud or errors. Two behavioral studies (n = 461) are conducted. Individual risk propensity and need for cognition are obtained via scales. The task is a game against an opaque computer opponent in which participants make decisions about the timing of actions in response to an unknown external risk factor. The task is not payoff-neutral w.r.t. risk. Difficulty is varied through the availability of explicitly given or decision-critical information, which is observable visually (Study 1) or in temporal memory (Study 2). Across this problem space, we find that risk propensity is not generally a hindrance in timing tasks. Participants of average risk propensity generally benefit from a high need for cognition, particularly when externalized memory is available, as in Study 1. In the more difficult temporal-estimation task, need for cognition was associated with increased payoffs from task experience. In both tasks, higher risk propensity in participants was associated with increased improvements in payoffs from task experience.

Measuring delay discounting in a crowdsourced sample: An exploratory study

Delay discounting is a measure of preferences for smaller immediate rewards over larger delayed rewards. Discounting has been assessed in many ways; these methods have variably and inconsistently involved measures of different lengths (single vs. multiple items), forced-choice methods, self-report methods, online and laboratory assessments, monetary and non-monetary compensation. The majority of these studies have been conducted in laboratory settings. However, over the past 20 years, behavioral data collection has increasingly shifted online. Usually, these experiments involve completing short tasks for small amounts of money, and are thus qualitatively different than experiments in the lab, which are typically more involved and in a strongly controlled environment. The present study aimed to determine how to best measure future discounting in a crowdsourced sample using three discounting measures (a single shot measure, the 27-item Kirby Monetary Choice Questionnaire, and a one-time Matching Task). We examined associations of these measures with theoretically related variables, and assessed influence of payment on responding. Results indicated that correlations between the discounting tasks and conceptually related measures were smaller than in prior laboratory experiments. Moreover, our results suggest providing monetary compensation may attenuate correlations between discounting measures and related variables. These findings suggest that incentivizing discounting measures changes the nature of measurement in these tasks.

The Measure Matters

Abstract. Several inventories have been developed to measure sensation seeking (SS), and each of these inventories has been based on an individual theoretical concept of the construct. However, most studies assessing SS disregarded the large theoretical diversity and have treated the measures as interchangeable. The goal of this research was to identify common and distinctive dimensions of SS across the different measures. Subsequent goals were to reveal similarities and differences in what is measured by the various subscales, to provide differential correlates of these dimensions, and thereby to analyze which of the subscales can or should not be used interchangeably. We administered the five most relevant SS measures ( Sensation Seeking-Scales Form V [SSS-V], Arnett Inventory of Sensation Seeking [AISS], Need Inventory of Sensation Seeking [NISS], the Impulsive Sensation Seeking [ImpSS] scale, and the Novelty Seeking scale) to a sample of adolescents ( N = 318) in a cross-sectional design. Second-order factor analyses of the measures’ subscales revealed three distinct facets: impulsive sensation seeking, intensity seeking, and stimulation seeking. The specific correlational patterns between the facets and external measures of impulsiveness, the Big Five, and social desirability supported the factorial differentiation. We characterize the necessary distinctions between the facets of the SS measures and recommend to not use them interchangeably. The best indicators of each SS measurement facet are discussed.

PERSONALITY, VALUES, OR ATTITUDES? INDIVIDUAL-LEVEL ANTECEDENTS TO CREATIVE DEVIANCE

Creative deviance, i.e., the violation of a managerial order to stop working on a new idea, is an emerging topic in innovation research. Whereas the outcomes of this nonconforming behaviour are inherently ambiguous, its importance for corporations’ innovative capability is undisputed. We complement prior research on the organisational-level determinants of creative deviance by studying its individual-level antecedents. We hypothesise that risk propensity as a personality trait is positively related, whereas allocentrism as a personal value orientation and organisational commitment as a personal attitude are negatively related to creative deviance. Risk propensity is considered the strongest predictor, as it affects creative deviance both directly and indirectly through allocentrism and commitment. Data from 457 employees in a German high-tech corporation support our hypotheses. Our findings contribute to research on innovation management and organisational behaviour while yielding managerial recommendations for leadership and recruitment.

Cuing both positive and negative episodic foresight reduces delay discounting but does not affect risk-taking

Humans frequently create mental models of the future, allowing outcomes to be inferred in advance of their occurrence. Recent evidence suggests that imagining positive future events reduces delay discounting (the devaluation of reward with time until its receipt), while imagining negative future events may increase it. Here, using a sample of 297 participants, we experimentally assess the effects of cued episodic simulation of positive and negative future scenarios on decision-making in the context of both delay discounting (monetary choice questionnaire) and risk-taking (balloon-analogue risk task). Participants discounted the future less when cued to imagine positive and negative future scenarios than they did when cued to engage in control neutral imagery. There were no effects of experimental condition on risk-taking. Thus, although these results replicate previous findings suggesting episodic future simulation can reduce delay discounting, they indicate that this effect is not dependent on the valence of the thoughts, and does not generalise to all other forms of “impulsive” decision-making. We discuss various interpretations of these results, and suggest avenues for further research on the role of prospection in decision-making.

Does Medical Risk Perception and Risk Taking Change with Age?

Across adulthood, people face increasingly more risky medical problems and decisions. However, little is known about changes in medical risk taking across adulthood. Therefore, the current cross-sectional study investigated age-related differences in medical risk taking with N = 317 adults aged 20-77 years using newly developed scenarios to assess medical risk taking, and additional measures designed to evaluate risk-taking behavior in the medical domain. Greater expected benefits on the Domain-Specific Risk-Taking Scale-Medical (DOSPERT-M) predicted more active risk taking, whereas higher perceived risk predicted less active risk taking. Next, we examined differences in active and passive risk taking, where passive risk taking refers to risk taking that is associated with inaction. Age was associated with less passive risk taking, but not with active risk taking, risk perception, or expected benefits on the DOSPERT-M. Participants were overall more likely to opt for taking medical action than not, even more so for a scenario about a vaccine for a deadly flu than for a scenario about a chemotherapy treatment for cancer. Overall, participants were more likely to accept medication (vaccine or chemotherapy) for their child than for themselves. Increasing age was associated with a lower likelihood of accepting the treatment or vaccine for oneself. Taken together, our study provides important insights about changes in medical risk taking across adulthood when people face an increasing number of complex and risky medical decisions.

Extending the Balloon Analogue Risk Task to Assess Naturalistic Risk Taking via a Mobile Platform

The Balloon Analogue Risk Task (BART) is a behavioral measure that is commonly used to assess risk taking propensity. The primary goal of the present study was to introduce a mobile version of the BART (mBART) that can be included within ambulatory assessment protocols to assess risk taking in daily life. Study 1 compared common BART indices (i.e., total money earned, adjusted average pumps, balloon explosions, and coefficient of variability [CV]) on a single administration of the laboratory BART on a computer and the mBART on a smartphone (n = 78). Results revealed generally consistent relationships between indices of risk taking propensity in both the laboratory BART and mBART. Study 2 administered the mBART as part of a 7-day ecological momentary assessment (EMA) protocol in a population of nondaily smokers (n = 51). Using multi-level models, results suggest that males have greater adjusted average pumps (p = .03), and that a participant's average CV is negatively related to trait sensation seeking (p = .03) and positively associated with trait positive urgency (p = .04). There were within-person effects of study day (p = .05) and environment (p = .02) with respect to adjusted average pumps such that individuals took greater risks as the study progressed and were riskier when alone compared to with others. Inclusion of the mBART in EMA did not appear to significantly increase participant burden and demonstrated acceptable levels of compliance. These results offer initial evidence supporting the feasibility and utility of the mBART for ambulatory research designs.

Risk preference shares the psychometric structure of major psychological traits

To what extent is there a general factor of risk preference, R, akin to g, the general factor of intelligence? Can risk preference be regarded as a stable psychological trait? These conceptual issues persist because few attempts have been made to integrate multiple risk-taking measures, particularly measures from different and largely unrelated measurement traditions (self-reported propensity measures assessing stated preferences, incentivized behavioral measures eliciting revealed preferences, and frequency measures assessing actual risky activities). Adopting a comprehensive psychometric approach (1507 healthy adults completing 39 risk-taking measures, with a subsample of 109 participants completing a retest session after 6 months), we provide a substantive empirical foundation to address these issues, finding that correlations between propensity and behavioral measures were weak. Yet, a general factor of risk preference, R, emerged from stated preferences and generalized to specific and actual real-world risky activities (for example, smoking). Moreover, R proved to be highly reliable across time, indicative of a stable psychological trait. Our findings offer a first step toward a general mapping of the construct risk preference, which encompasses both general and domain-specific components, and have implications for the assessment of risk preference in the laboratory and in the wild.

Characterising the latent structure and organisation of self-reported thoughts, feelings and behaviours in adolescents and young adults

Little is known about the underlying relationships between self-reported mental health items measuring both positive and negative emotional and behavioural symptoms at the population level in young people. Improved measurement of the full range of mental well-being and mental illness may aid in understanding the aetiological substrates underlying the development of both mental wellness as well as specific psychiatric diagnoses. A general population sample aged 14 to 24 years completed self-report questionnaires on anxiety, depression, psychotic-like symptoms, obsessionality and well-being. Exploratory and confirmatory factor models for categorical data and latent profile analyses were used to evaluate the structure of both mental wellness and illness items. First order, second order and bifactor structures were evaluated on 118 self-reported items obtained from 2228 participants. A bifactor solution was the best fitting latent variable model with one general latent factor termed 'distress' and five 'distress independent' specific factors defined as self-confidence, antisocial behaviour, worry, aberrant thinking, and mood. Next, six distinct subgroups were derived from a person-centred latent profile analysis of the factor scores. Finally, concurrent validity was assessed using information on hazardous behaviours (alcohol use, substance misuse, self-harm) and treatment for mental ill health: both discriminated between the latent traits and latent profile subgroups. The findings suggest a complex, multidimensional mental health structure in the youth population rather than the previously assumed first or second order factor structure. Additionally, the analysis revealed a low hazardous behaviour/low mental illness risk subgroup not previously described. Population sub-groups show greater validity over single variable factors in revealing mental illness risks. In conclusion, our findings indicate that the structure of self reported mental health is multidimensional in nature and uniquely finds improved prediction to mental illness risk within person-centred subgroups derived from the multidimensional latent traits.

For better or for worse: Social influences on risk-taking

This study investigated changes in risk-taking propensity on a behavioral decision-making task as a function of varying social conditions with peers. In contrast to the effects of direct peer influence (pro-risk and anti-risk messages by peers), we included a socially ambiguous context (neutral messages by peers) and a no-peer control (participants alone) as comparison conditions. Using a counterbalanced mixed factorial design, college students (N = 187) completed the Balloon Analogue Risk Task-Youth (BART-Y) twice during two consecutive sessions, including once alone and once with a confederate; the control group completed two sessions of the task alone. The findings showed that, in general, direct pro-risk messages led to the most robust and consistent changes in risk-taking. The findings are discussed in terms of the multidimensional and multidirectional nature of peer influence during the college years.

Self-reported intolerance of uncertainty and behavioural decisions

Intolerance of Uncertainty (IU) appears to be a robust transdiagnostic risk factor related to anxiety and depression. Most transdiagnostic IU research has used the self-report Intolerance of Uncertainty Scale-Short Form; however, there is comparatively little research exploring presumed behavioral correlates of IU. The current study was designed to assess relationships between self-reported IU and decisions in uncertainty-based behavioral tasks (specifically, the Wisconsin Card Sorting Task, the Risky Gains Task, and the Modified Iowa Gambling Task). Participants comprised compensated community members (n = 108; 69% women) and undergraduates (n = 98; 78% women). Community member compensation was not contingent on performance, but undergraduate compensation was partially contingent on performance. Results replicated prior research, with both samples producing small (r = .19) to moderate (r = -.29) correlations (ps < .05) between self-reported IU and outcome variables from each of the behavioral tasks. The relationships were larger in the undergraduate sample, likely due to the compensation incentive. In general, the results suggest that increasing IU is associated with increasingly risk adverse behaviors; however, the relationship appears complex and in need of substantial additional research to understand how clinically-significant IU would impact pathology-related behaviours.

The Relative State Model: Integrating Need-Based and Ability-Based Pathways to Risk-Taking

Who takes risks, and why? Does risk-taking in one context predict risk-taking in other contexts? We seek to address these questions by considering two non-independent pathways to risk: need-based and ability-based. The need-based pathway suggests that risk-taking is a product of competitive disadvantage consistent with risk-sensitivity theory. The ability-based pathway suggests that people engage in risk-taking when they possess abilities or traits that increase the probability of successful risk-taking, the expected value of the risky behavior itself, and/or have signaling value. We provide a conceptual model of decision-making under risk-the relative state model-that integrates both pathways and explicates how situational and embodied factors influence the estimated costs and benefits of risk-taking in different contexts. This model may help to reconcile long-standing disagreements and issues regarding the etiology of risk-taking, such as the domain-generality versus domain-specificity of risk or differential engagement in antisocial and non-antisocial risk-taking.

Propensity for Risk Taking Across the Life Span and Around the Globe

Past empirical work suggests that aging is associated with decreases in risk taking. But are such effects universal? Life-history theory suggests that the link between age and risk taking is a function of specific reproductive strategies that can be more or less risky depending on the ecology. We assessed variation in the age-risk curve using World Values Survey data from 77 countries ( N = 147,118). The results suggest that propensity for risk taking tends to decline across the life span in the vast majority of countries. In addition, there is systematic variation among countries: Countries in which hardship (e.g., high infant mortality) is higher are characterized by higher levels of risk taking and flatter age-risk curves. These findings suggest that hardship may function as a cue to guide life-history strategies. Age-risk relations thus cannot be understood without reference to the demands and affordances of the environment.

fMRI investigation of response inhibition, emotion, impulsivity, and clinical high-risk behavior in adolescents

High-risk behavior in adolescents is associated with injury, mental health problems, and poor outcomes in later life. Improved understanding of the neurobiology of high-risk behavior and impulsivity shows promise for informing clinical treatment and prevention as well as policy to better address high-risk behavior. We recruited 21 adolescents (age 14–17) with a wide range of high-risk behavior tendencies, including medically high-risk participants recruited from psychiatric clinics. Risk tendencies were assessed using the Adolescent Risk Behavior Screen (ARBS). ARBS risk scores correlated highly (0.78) with impulsivity scores from the Barratt Impulsivity scale (BIS). Participants underwent 4.7 Tesla functional magnetic resonance imaging (fMRI) while performing an emotional Go/NoGo task. This task presented an aversive or neutral distractor image simultaneously with each Go or NoGo stimulus. Risk behavior and impulsivity tendencies exhibited similar but not identical associations with fMRI activation patterns in prefrontal brain regions. We interpret these results as reflecting differences in response inhibition, emotional stimulus processing, and emotion regulation in relation to participant risk behavior tendencies and impulsivity levels. The results are consistent with high impulsivity playing an important role in determining high risk tendencies in this sample containing clinically high-risk adolescents.

Risk-Taking Behavior in a Computerized Driving Task: Brain Activation Correlates of Decision-Making, Outcome, and Peer Influence in Male Adolescents

Increased propensity for risky behavior in adolescents, particularly in peer groups, is thought to reflect maturational imbalance between reward processing and cognitive control systems that affect decision-making. We used functional magnetic resonance imaging (fMRI) to investigate brain functional correlates of risk-taking behavior and effects of peer influence in 18–19-year-old male adolescents. The subjects were divided into low and high risk-taking groups using either personality tests or risk-taking rates in a simulated driving task. The fMRI data were analyzed for decision-making (whether to take a risk at intersections) and outcome (pass or crash) phases, and for the influence of peer competition. Personality test-based groups showed no difference in the amount of risk-taking (similarly increased during peer competition) and brain activation. When groups were defined by actual task performance, risk-taking activated two areas in the left medial prefrontal cortex (PFC) significantly more in low than in high risk-takers. In the entire sample, risky decision-specific activation was found in the anterior and dorsal cingulate, superior parietal cortex, basal ganglia (including the nucleus accumbens), midbrain, thalamus, and hypothalamus. Peer competition increased outcome-related activation in the right caudate head and cerebellar vermis in the entire sample. Our results suggest that the activation of the medial (rather than lateral) PFC and striatum is most specific to risk-taking behavior of male adolescents in a simulated driving situation, and reflect a stronger conflict and thus increased cognitive effort to take risks in low risk-takers, and reward anticipation for risky decisions, respectively. The activation of the caudate nucleus, particularly for the positive outcome (pass) during peer competition, further suggests enhanced reward processing of risk-taking under peer influence.

Neural correlates of high-risk behavior tendencies and impulsivity in an emotional Go/NoGo fMRI task

Improved neuroscientific understanding of high-risk behaviors such as alcohol binging, drug use, and unsafe sex will lead to therapeutic advances for high-risk groups. High-risk behavior often occurs in an emotionally-charged context, and behavioral inhibition and emotion regulation play important roles in risk-related decision making. High impulsivity is an important potential contributor to high-risk behavior tendencies. We explored the relationships between high-risk behavior tendencies, impulsivity, and fMRI brain activations in an emotional Go/NoGo task. This task presented emotional distractor pictures (aversive vs. neutral) simultaneously with Go/NoGo stimuli (square vs. circle) that required a button press or withholding of the press, respectively. Participants' risk behavior tendencies were assessed with the Cognitive Appraisal of Risky Events (CARE) scale. The Barratt Impulsivity Scale 11 (BIS) was used to assess participant impulsivity. Individuals with higher CARE risk scores exhibited reduced activation related to response inhibition (NoGo-Go) in right orbital frontal cortex (OFC) and ventromedial prefrontal cortex. These regions did not show a significant relationship with impulsivity scores. Conversely, more impulsive individuals showed reduced emotion-related activity (aversive-neutral distractors) in dorsomedial prefrontal cortex, perigenual anterior cingulate cortex, and right posterior OFC. There were distinct neural correlates of high-risk behavior tendency and impulsivity in terms of brain activity in the emotional Go/NoGo task. This dissociation supports the conception of high-risk behavior tendency as a distinct construct from that of impulsivity. Our results suggest that treatment for high-risk behavior may be more effective with a nuanced approach that does not conflate high impulsivity necessarily with high-risk behavior tendencies.

Brain structural correlates of risk-taking behavior and effects of peer influence in adolescents

Adolescents are characterized by impulsive risky behavior, particularly in the presence of peers. We discriminated high and low risk-taking male adolescents aged 18-19 years by assessing their propensity for risky behavior and vulnerability to peer influence with personality tests, and compared structural differences in gray and white matter of the brain with voxel-based morphometry (VBM) and diffusion tensor imaging (DTI), respectively. We also compared the brain structures according to the participants' actual risk-taking behavior in a simulated driving task with two different social conditions making up a peer competition situation. There was a discrepancy between the self-reported personality test results and risky driving behavior (running through an intersection with traffic lights turning yellow, chancing a collision with another vehicle). Comparison between high and low risk-taking adolescents according to personality test results revealed no significant difference in gray matter volume and white matter integrity. However, comparison according to actual risk-taking behavior during task performance revealed significantly higher white matter integrity in the high risk-taking group, suggesting that increased risky behavior during adolescence is not necessarily attributed to the immature brain as conventional wisdom says.

The impact of sex hormone concentrations on decision-making in females and males

Human decision-making has been frequently studied and sex differences have been reported. Interestingly, previous results of hormone concentration on decision-making are somewhat inconsistent, regarding the impact of menstrual cycle phase in women or the influence of testosterone concentration on decision-making in women and men. However, the influence of the female sex hormone concentration (estradiol, progesterone) and the impact of oral contraceptive intake have rarely been examined and data regarding the effect of daytime variations of male testosterone are lacking. Moreover if personality factors such as sensation seeking, impulsivity, and anxiety influence decision-making, sex-specific effects, act as modulators is unclear. In the present study 71 women and 45 men were enrolled. All participants performed an evaluated decision-making task measuring risk-taking behavior on the basis of contingencies (Haegler et al., 2010), which can be carried out several times without a learning effect. Saliva samples were collected to obtain estradiol, progesterone, and testosterone levels. Additionally, all participants completed questionnaires measuring various personality factors. Data analysis revealed no sex differences in decision-making and no significant impact of testosterone concentration on behavioral performance in women or men. However, a significant negative correlation between progesterone concentration of women in the luteal phase and their performance in the risk-averse condition was obtained. Interestingly, a significant correlation between trait anxiety and decision-making occurred in females and males. Despite similar risky decision-making of women and men and no influence of testosterone concentration, menstrual cycle phase showed an effect on risk taking in women. In contrary to other studies, our findings provide rather subtle evidence for hormonal influences in decision-making, which may be primarily explained by task factors.

Conceptualizing Time Preference: A Life-History Analysis

Life-history theory (LHT) has drawn upon the concept of “time preference” as a psychological mechanism for the development of fast and slow strategies. However, the conceptual and empirical nature of this mechanism is ill-defined. This study compared four traits commonly used as measures of “time preference” (impulsivity, sensation seeking, future orientation and delay discounting) and evaluated their relationship to variables associated with life-history strategies (aggressive behavior and mating attitudes, biological sex, pubertal timing, victimization, and exposure to aggression in the environment). Results indicated that only sensation seeking consistently showed all the predicted associations, although impulsivity, future orientation, and delay discounting showed some significant associations. A unidimensional higher-order factor of “time preference” did not adequately fit the data and lacked structural invariance across age and sex, suggesting that personality traits associated with LHT do not represent a global trait. We discuss the use of personality traits as measures in LHT and suggest that greater caution and clarity is required when conceptualizing this construct in future work.

Using the Implicit Association Test to Assess Risk Propensity Self–Concept: Analysis of Its Predictive Validity on A Risk–Taking Behaviour in A Natural Setting

The present work analyses the predictive validity of measures provided by several available self–report and indirect measurement instruments to assess risk propensity (RP) and proposes a measurement instrument using the Implicit Association Test: the IAT of Risk Propensity Self–Concept (IAT–RPSC), an adaptation of the prior IAT–RP of Dislich et al. Study 1 analysed the relationship between IAT–RPSC scores and several RP self–report measures. Participants’ risk–taking behaviour in a natural setting was also assessed, analyzing the predictive validity of the IAT–RPSC scores on risk–taking behaviour compared with the self–report measures. Study 2 analysed the predictive validity of the IAT–RPSC scores in comparison with other indirect measures. Results of these studies showed that the IAT–RPSC scores exhibited good reliability and were positively correlated to several self–report and indirect measures, providing evidence for convergent validity. Most importantly, the IAT–RPSC scores predicted risk–taking behaviour in a natural setting with real consequences above and beyond all other self–report and indirect measures analysed. Copyright © 2013 European Association of Personality Psychology

Confirmatory factor analysis of DOSPERT scale with Chinese university students

The factor structure of the 30-item Domain Specific Risk Taking Attitude (DOSPERT) scale (Blais & Weber, 2006) was examined with a convenience sample of 205 Chinese undergraduate students from Macao. A comparison of five competing models via confirmatory factor analysis yielded empirical support for the perspective that risk-taking attitude was content-dependent. After removing the items in the Financial subscale of the DOSPERT scale and some post hoc modifications, a reasonably good fit to the four-correlated-factor model was achieved, in concordance with the theoretical framework. However, items in some scales needed further revision to purify their factor structure so that the DOSPERT scale would be a more psychometrically sound measure for investigating one's risk-taking attitudes in different life domains.

Decision-Making Under Risk: Integrating Perspectives From Biology, Economics, and Psychology

Decision-making under risk has been variably characterized and examined in many different disciplines. However, interdisciplinary integration has not been forthcoming. Classic theories of decision-making have not been amply revised in light of greater empirical data on actual patterns of decision-making behavior. Furthermore, the meta-theoretical framework of evolution by natural selection has been largely ignored in theories of decision-making under risk in the human behavioral sciences. In this review, I critically examine four of the most influential theories of decision-making from economics, psychology, and biology: expected utility theory, prospect theory, risk-sensitivity theory, and heuristic approaches. I focus especially on risk-sensitivity theory, which offers a framework for understanding decision-making under risk that explicitly involves evolutionary considerations. I also review robust empirical evidence for individual differences and environmental/situational factors that predict actual risky decision-making that any general theory must account for. Finally, I offer steps toward integrating various theoretical perspectives and empirical findings on risky decision-making.