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On each of 300 trials, 54 children were required to choose between a known payoff and a risky option. The known payoff was -1 on half the trials and +1 on the other half, for all Ss of the 3 age levels observed. There were 2 between-group variables-age and the probability that risk taking would result in a gain. This probability was contingent upon the value of the known payoff. Across age, there were more risk-taking responses on -1 trials under the 7r+ = .20 and -r+ = .50 contingency conditions, and more risk taking on +1 trials under the 7r+ = .80 contingency. Of the 3 contingencies, 7r+ = .20 was learned most quickly and 7r+ = .50 least quickly, regardless of age.
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