Schematic of real-time fMRI setup. BOLD activity from anatomically defined SN/VTA is extracted and denoised (removing movement, breathing, and pulsatile artifacts) in real time. The overlay on the sagittal image indicates intersecting coverage across all subjects in the study. Endogenous activity reflecting a low/high background activity state (exceeding a 15th/85th percentile cutoff) triggered presentation of a trial with a choice between a safe option (here, £2.8 guaranteed reward) and a risky option (here, £0 or £6 with equal probability). To ensure similar rates of risk taking across individuals, safe options varied around each subject’s indifference point, which was determined prior to scanning. This design allowed us to efficiently and selectively probe subjects with identical options during very low and very high endogenous SN/VTA activity. Any difference in behavior can therefore be attributed to endogenous SN/VTA activity.