The hypothesis that emotion mediates the relationship between cognitive assessments of the importance of outcomes and preferences in decision-making under risk is not supported. Regulatory focus strength (E. T. Higgins, 1997) is used as a measure of cognitive importance of outcomes, and skin conductance response (SCR) and self reported emotion as measures of emotion. Separately, a proportion of emotion model, that adds an emotional weighting mechanism to the proportional difference model (C. Gonzalez-Vallejo, 2002), proves to be a significant predictor of choice using SCR as an emotion input. However, it is outperformed by a simple emotional difference model and subjective expected pleasure theory (B. Mellers, 2000). All emotional models outperform cumulative prospect theory (A. Tversky & D. Kahneman, 1992).