EconPapers    
Economics at your fingertips  
 

Experience-based risk taking is primarily shaped by prior learning rather than by decision-making

Alon Erdman (), Arne Gouwy, Gal Sananes, Mayan Salman, Lior Eizenstien, Shimon Eliav and Eran Eldar
Additional contact information
Alon Erdman: Hebrew University of Jerusalem
Arne Gouwy: Hebrew University of Jerusalem
Gal Sananes: Hebrew University of Jerusalem
Mayan Salman: Hebrew University of Jerusalem
Lior Eizenstien: Hebrew University of Jerusalem
Shimon Eliav: Hebrew University of Jerusalem
Eran Eldar: Hebrew University of Jerusalem

Nature Communications, 2025, vol. 16, issue 1, 1-15

Abstract: Abstract The tendency to embrace or avoid risk varies across and within individuals, with significant consequences for economic behavior and mental health. Such variations can partially be explained by differences in the relative weights given to potential gains and losses. Applying this insight to real-life decisions, however, is complicated because such decisions are often based on prior learning experiences. Here, we ask which cognitive process—decision-making or learning—determines the weighting of gains or losses? Over 28 days, 100 participants engaged in a longitudinal decision task wherein choices were based on prior learning. Computational modeling of participants’ choices revealed that changes in risk-taking are primarily explained by changes in how learning, not decisions, weight gains and losses. Moreover, inferred changes in learning manifested in participants’ neural and physiological learning signals in response to outcomes. We conclude that in experience-based decisions, learning plays a primary role in governing risk-taking behavior.

Date: 2025
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.nature.com/articles/s41467-025-61609-0 Abstract (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nat:natcom:v:16:y:2025:i:1:d:10.1038_s41467-025-61609-0

Ordering information: This journal article can be ordered from
https://www.nature.com/ncomms/

DOI: 10.1038/s41467-025-61609-0

Access Statistics for this article

Nature Communications is currently edited by Nathalie Le Bot, Enda Bergin and Fiona Gillespie

More articles in Nature Communications from Nature
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-07-26
Handle: RePEc:nat:natcom:v:16:y:2025:i:1:d:10.1038_s41467-025-61609-0