Reward-dependent dynamics and changes in risk taking in the Balloon Analogue Risk Task

The Balloon Analogue Risk Task (BART) assesses real-world decision-making processes in a laboratory setting and has been applied to both healthy and clinical populations. Whereas many previous studies established reliable links between behaviour in the BART and individual characteristics, such as gender, age, and educational level, little is known to date how dynamic, contextual features of the BART impact risk taking behaviour. The present paper fills this gap and reports the results of an online BART administered to a sample of 141 voluntary participants. Taking a novel, single-trial perspective, we document significant associations between experience and expectation related variables, in particular reward and punishment dynamics, and risk-taking behaviour in the BART. Having accrued more money increases risk-taking behaviour as does experiencing foregone profits through exploded balloons. Our findings are consistent with prominent theories of decision-making under risk which postulate intra-person changes in risk-appetite. Our results have important implications for future research as they stress that a more dynamic perspective on the BART can enrich our understanding of the factors that shape risk-taking behaviour.