Risk-taking in games of chance and skill: Informational and affective influences on choice behavior.

Three studies to pinpoint the underlying dynamics related to risk-taking in skilled and chance situations are presented. Study 1 is an attempt to demonstrate that cognitive and motivational theories of risk-taking must be combined to account for individual differences in skilled situations. Here, both informational influences as related to uncertainty orientation (R. M. Sorrentino and J. C. Short, 1986) and affective influences as related to achievement-related motives are examined. In support of these notions, this study found that individual differences in uncertainty orientation and achievement-related motives combine to produce the greatest preference or avoidance of moderate risk (as opposed to low or high) in a skilled situation. Studies 2 and 3 show that the effect for uncertainty orientation generalizes to chance situations. Gender differences were also found to combine or interact with these effects. Taken together, these 3 studies help to clarify many issues remaining in the risk-taking area. (PsycINFO Database Record (c) 2010 APA, all rights reserved)