Exposure to stressful life events involving threat and uncertainty often results in the development of anxiety. However, the factors that confer risk and resilience for anxiety following real world stress at a computational level remain unclear. We identified core components of uncertainty aversion moderating response to stress posed by the COVID-19 pandemic derived from computational modeling of decision making. Using both cross-sectional and longitudinal analyses, we investigated both immediate effects at the onset of the stressor, as well as medium-term changes in response to persistent stress. 479 subjects based in the United States completed a decision-making task measuring risk aversion, loss aversion, and ambiguity aversion in the early stages of the pandemic (March 2020). Self-report measures targeting threat perception, anxiety, and avoidant behavior in response to the pandemic were collected at the same time point and 8 weeks later (May 2020). Cross-sectional analyses indicated that higher risk aversion predicted higher perceived threat from the pandemic, and ambiguity aversion for guaranteed gains predicted perceived threat and pandemic-related anxiety. In longitudinal analyses, ambiguity aversion for guaranteed gains predicted greater increases in perceived infection likelihood. Together, these results suggest that individuals who have a low-level aversion toward uncertainty show stronger negative emotional reactions to both the onset and persistence of real-life stress. (PsycInfo Database Record (c) 2023 APA, all rights reserved).