Abstract
Adolescents take more risks than adults in the real world, but laboratory experiments do not consistently demonstrate this pattern. In the current study, we examine the possibility that age differences in decision making vary as a function of the nature of the task (e.g., how information about risk is learned) and contextual features of choices (e.g., the relative favorability of choice outcomes), due to age differences in psychological constructs and physiological processes related to choice (e.g., weighting of rare probabilities, sensitivity to expected value, sampling, pupil dilation). Adolescents and adults made the same 24 choices between risky and safe options twice: once based on descriptions of each option, and once based on experience gained from sampling the options repeatedly. We systematically varied contextual features of options, facilitating a fine-grained analysis of age differences in response to these features. Eye-tracking and experience-sampling measures allowed tests of age differences in predecisional processes. Results in adolescent and adult participants were similar in several respects, including mean risk-taking rates and eye-gaze patterns. However, adolescents' and adults' choice behavior and process measures varied as a function of decision context. Surprisingly, age differences were most pronounced in description, with only marginal differences in experience. Results suggest that probability weighting, expected-value sensitivity, experience sampling and pupil dilation patterns may change with age. Overall, results are consistent with the notion that adolescents are more prone than adults to take risks when faced with unlikely but costly negative outcomes, and broadly point to complex interactions between multiple psychological constructs that develop across adolescence.