Formal approaches to risk have long occupied centre stage in both the theory and practice of normal decision-making. There are marked individual differences in risk attitudes, and extremes are associatedwith psychiatric dysfunctions, notably in anxiety disorders. Most work on risky decision-making has focused on single-shot problems; but most decisions unfold over sequences of choices and outcomes, allowing peril to accumulate. I will discuss our recent theoretical and experimental work in this domain.  This is joint work with Kevin Chen, Chris Gagne, Kevin Lloyd, Yannick Streicher and Xin Sui

Director, MPI for Biological Cybernetics

Peter Dayan – Risk in Sequential Decisions