Influence of budget and reinforcement location on risk-sensitive preference

Little is known about the effect that procedural variables have on risk-sensitive preference. This study assessed the effect of procedural variables on pigeons' choice between a fixed and variable amount of reinforcement (amount risk) and, in a separate condition, between a fixed and variable delay until reinforcement (delay risk). Experiment 1 investigated the impact of water reinforcement and risk dimension when pigeons were in a restrictive budget, where access to water was less than that necessary to maintain current body weight, and a condition where the pigeons had ample access to water. Pigeons exhibited a greater tendency to prefer the variable alternative for delay risk than for amount risk in both restrictive and ample budgets. Varying water budget had no effect on risk preference. Experiment 2 investigated the influence of water reinforcer location while in a restrictive budget, in which reinforcers were delivered to a single location, two distinct locations, or a randomly selected location. With amount risk, pigeons were risk averse when reinforcers were delivered in separate or random locations and were indifferent to risk when delivered to a single location. With delay risk, pigeons were generally risk prone with no effect from reinforcement location. The finding that pigeons were risk averse when reinforcers were delivered to separate locations and were indifferent to risk when delivered to a single location offers a methodological explanation to the inconsistent findings in the literature with amount risk.