Figure 1.

(a) Example of the visual displays that were shown in each trial. In each round, participants were assigned to the role of player 1 (the trustor) or player 2 (the trustee). The choice of the player they were assigned to was highlighted (i.e., if participants played as player 1, the choice for player 1 was highlighted and the choice for player 2 was masked by somewhat darkening that part of the screen), but the whole decision tree remained visible to participants. If participants were assigned the role of player 1 (the trustor; indicated by the text “You are now player 1”), they had to decide whether to trust player 2 or not by pressing certain keys on the keyboard. A no trust choice ended the game immediately, whereas trust decisions allowed player 2 to decide whether to reciprocate or exploit the trust shown by player 1. The stakes are represented by the numbers next to the 1‐euro coins. Please note that the choice labels (trust, no‐trust; reciprocate, exploit) were not visible to participants but are shown here for illustrative purposes. (b) Visual representation of the four experimental conditions: (A) No risk, potential coin loss for player 1 was 0, (B) Small risk, potential coin loss was 1, (C) Medium risk, potential coin loss was 2, and (D) High risk, potential coin loss was 3.