Death-related anxiety associated with riskier decision-making irrespective of framing: A Bayesian model comparison

A commonly reported finding is that anxious individuals are less likely to make risky decisions. However, no studies have examined whether this association extends to death-related anxiety. The present study examined how groups low, moderate, and high in death-related anxiety make decisions with varying levels of risk. Participants completed a series of hypothetical bets in which the probability of a win was systematically manipulated. High-anxiety individuals displayed the greatest risk-taking behavior, followed by the moderate-anxiety group, with the low-anxiety group being most risk-averse. Experiment 2 tested this association further by framing outcomes in terms of losses, rather than gains. A similar pattern was observed with both positive and negative framing. In contrast to findings with trait anxiety, the present results suggest that death-related anxiety is positively associated with risky decision-making – an effect that holds regardless of how options are framed. Furthermore, the present study demonstrates that Bayesian modeling can provide very accurate predictions for economic decision-making behavior. •Death anxiety positively associated with risk in decisions under uncertainty.•Association of death anxiety and risk present regardless of choice framing.•Bayesian models can provide very accurate predictions of decision behavior.