Information integration in risky decision making was studied by using a functional measurement approach. Participants (N=84) played a computerized risky card game incorporating a within-subject design with the 3 factors (a) probability of negative or positive outcome, (b) amount of gain, and (c)...

How is risk-taking affected by prior gains and losses? While normative theory implores decision makers to only consider incremental outcomes, real decision makers are influenced by prior outcomes. We first consider how prior outcomes are combined with the potential payoffs offered by current...