This study examined how well self-reported sensation seeking, empathy and resistance to peer influence, and performance on the computer-based measure to evaluate risk-taking behavior (Balloon Analogue Risk Task, BART) predicted the risk decision-making process on the computer-based Social Context Decision Task (SCDT). Participants were 256 early, mid- and late adolescents and young adults, distributed by age and gender. Early adolescents scored lower on sensation seeking and empathy than late adolescents and young adults. Men scored higher on sensation seeking whereas women scored higher on empathy and resistance to peer influence. Regression models showed that riskiness on the BART was positively related to the percentage of risk elections and shorter decision times in the SCDT task, with the BART parameters accounting for variance in these measures beyond that accounted for by age, gender and Disinhibition. These results contributed to a more comprehensive multimethod assessment of the process of risk decision making in social situations.