How individuals make decisions in risky environments is a critical issue in behavioral economics.Research in this area is crucial for unlocking consumer spending potential and boosting entrepreneurial investment confidence,especially amid the cur-rent complex economic risk landscape.The relationship between risk environments and individual risk and time preferences is in-tricate,potentially involving multiple influencing mechanisms.This study employs a random reward experiment embedded within a survey questionnaire to investigate the impact of actual risk environments on individual risk and time preferences.The findings re-veal that when individuals encounter risk shocks exceeding their inherent risk preference level,their risk tolerance increases and they exhibit greater patience.Conversely,when faced with risk shocks below their inherent risk preference level,individuals be-come more risk-averse and their patience decreases.Additionally,positive emotion and memory play significant roles in altering in-dividual preferences in this experiment.This study offers new insights into consumer spending and business investment decisions and provides valuable guidance for optimizing related economic policies.
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