Encoding Context Determines Risky Choice

Both memory and choice are influenced by context: Memory is enhanced when encoding retrieval contexts match, swayed available options. Here, we assessed how context influences risky in an experience-based task two main experiments (119 98 participants retained, respectively) additional reported the Supplemental Material online (152 106 respectively). Within a single session, created separate presenting blocks of trials distinct backgrounds. Risky choices were dependent; given same choice, people chose differently depending on other outcomes experienced that context. Choices reflected overweighting most extreme within each local rather than global all outcomes. When tested nontrained context, according to at not retrieval. In subsequent tests, displayed biases specific contexts: Extreme from more accessible judged as frequent. These results pose challenge for theories rely guiding choice.