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There is growing interest in modelling how people make choices that involve both risks and delays, i.e., risky inter-temporal choices. We investigated an untested assumption underlying several proposed risky inter-temporal choice models: that pure risky choices and pure inter-temporal choices are special cases of risky inter-temporal choice. We tested this assumption by presenting a single group of participants with risky choices and inter-temporal choices. We then compared the performance of a model that is fit to both choice types simultaneously, with the performance of separate models fit to the risky choice and inter-temporal choice data. We find, using Bayesian model comparison, that the majority of participants are best fit by a single model that incorporates both risky and inter-temporal choices. This result supports the assumption that risky choices and inter-temporal choices may be special cases of risky inter-temporal choice. Our results also suggest that, under the conditions of our experiment, interpretation of monetary value is very similar in risky choices and inter-temporal choices.

To reduce the spread of Covid-19, governments around the world recommended or required minimum physical distancing between individuals, as well as either mandating or recommending the use of face coverings (masks) in certain circumstances. When multiple risk reduction activities can be adopted, people may engage in risk compensation. They may respond to reduced risk due to one activity by increasing risk due to another. We tested for risk compensation related to mask usage during the Covid-19 pandemic in two online experiments that investigated whether either wearing a mask or seeing others wearing masks reduced physical distancing. We presented participants with stylized images of everyday scenarios involving themselves with or without a mask and a stranger with or without a mask. For each scenario, participants indicated the minimum distance they would keep from the stranger. Consistent with risk compensation, we found that participants indicated they would stand, sit or walk closer to the stranger when either of them was wearing a mask. This form of risk compensation was stronger for those who believed masks were effective at preventing catching or spreading Covid-19, and for younger (18-40 years) compared to older (over 65 years) participants.

Please refer to published version for the most recent bibliographic citation information. If a published version is known of, the repository item page linked to above, will contain details on accessing it.