Behavioral analyses
Risk was defined as the uncertainty in possible outcomes of a decision, expressed as the variance of the associated reward distribution (Rothschild & Stiglitz, For learned risks, the risk preference was averaged over the second half of the trials (72 trials) of each stimulus set (Figure S1A). Using only the second half of the trials allowed participants sufficient opportunity to learn the outcomes associated with each option, while providing a long enough sample to get a reliable measure of their risk preference (Ludvig et al., For described risks, the risk preference was assessed as the proportion of risky gambles chosen in the low (decision type 9) or high (decision type 10) reward context. All trials were included, because no learning occurred and each gamble was considered independently (Figure S1B).We used the performance on mixed‐context trials as a control measure to verify if people maximized their outcome. The proportion of options with the highest expected value was calculated based on the performance on mixed‐context trials in experienced‐based risk‐taking task and the gambles 1−8 in the description‐based risk‐taking task.Statistical significance was tested using paired 