diff --git a/examples/adaptive_risk_agents/README.md b/examples/adaptive_risk_agents/README.md
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+# Adaptive Risk Agents
+
+This example demonstrates agents that **adapt their risk-taking behavior
+based on past experiences**, implemented using only core Mesa primitives.
+
+The model is intentionally simple in structure but rich in behavior, making it
+useful as a diagnostic example for understanding how adaptive decision-making
+is currently modeled in Mesa.
+
+
+
+## Motivation
+
+Many real-world agents do not follow fixed rules.
+Instead, they:
+
+- make decisions under uncertainty,
+- remember past outcomes,
+- adapt future behavior based on experience.
+
+In Mesa today, modeling this kind of adaptive behavior often results in
+a large amount of logic being concentrated inside `agent.step()`, combining
+multiple concerns in a single execution phase.
+
+This example exists to **make that structure explicit**, not to abstract it away.
+
+
+
+## Model Overview
+
+- Each agent chooses between:
+  - a **safe action** (low or zero payoff, no risk),
+  - a **risky action** (stochastic payoff).
+- Agents track recent outcomes of risky actions in a short memory window.
+- If recent outcomes are negative, agents become more risk-averse.
+- If outcomes are positive, agents increase their risk preference.
+
+All behavior is implemented using plain Python and Mesa’s public APIs.
+
+
+
+## Observations From This Example
+
+This model intentionally does **not** introduce new abstractions
+(tasks, goals, states, schedulers, etc.).
+
+Instead, it highlights several patterns that commonly arise when modeling
+adaptive behavior in Mesa today:
+
+- Decision-making, action execution, memory updates, and learning logic
+  are handled within a single `step()` method.
+- There is no explicit separation between decision phases.
+- Actions are instantaneous, with no notion of duration or interruption.
+- As behaviors grow richer, agent logic can become deeply nested and harder
+  to maintain.
+
+These observations may be useful input for ongoing discussions around:
+
+- Behavioral frameworks
+- Tasks and continuous states
+- Richer agent decision abstractions
+
+
+
+## Mesa Version & API Alignment
+
+This example is written to align with the **Mesa 4 design direction**:
+
+- Uses `AgentSet` and `shuffle_do`
+- Avoids deprecated schedulers
+- Avoids `DataCollector`
+- Uses keyword-only arguments for public APIs
+- Relies on `model.random` for reproducibility
+
+No experimental or private APIs are used.
+
+
+
+## Running the Example
+
+From the Mesa repository root:
+
+python -m mesa.examples.adaptive_risk_agents.run
diff --git a/examples/adaptive_risk_agents/__init__.py b/examples/adaptive_risk_agents/__init__.py
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diff --git a/examples/adaptive_risk_agents/agents.py b/examples/adaptive_risk_agents/agents.py
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+++ b/examples/adaptive_risk_agents/agents.py
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+"""Adaptive Risk Agent.
+
+An agent that chooses between safe and risky actions and adapts its
+risk preference based on past outcomes.
+
+This example intentionally keeps all decision logic inside `step()`
+to highlight current limitations in Mesa's behavior modeling.
+"""
+
+from __future__ import annotations
+
+from collections import deque
+
+from mesa import Agent
+
+
+class AdaptiveRiskAgent(Agent):
+    """An agent that adapts its risk-taking behavior over time.
+
+    Attributes
+    ----------
+    risk_preference : float
+        Probability (0-1) of choosing a risky action.
+    memory : deque[int]
+        Recent outcomes of risky actions (+1 reward, -1 loss).
+    """
+
+    def __init__(
+        self,
+        model,
+        *,
+        initial_risk_preference: float = 0.5,
+        memory_size: int = 10,
+    ) -> None:
+        super().__init__(model)
+        self.risk_preference = initial_risk_preference
+        self.memory: deque[int] = deque(maxlen=memory_size)
+
+    def choose_action(self) -> str:
+        """Choose between a safe or risky action."""
+        if self.model.random.random() < self.risk_preference:
+            return "risky"
+        return "safe"
+
+    def risky_action(self) -> int:
+        """Perform a risky action.
+
+        Returns
+        -------
+        int
+            Outcome of the action (+1 for reward, -1 for loss).
+        """
+        return 1 if self.model.random.random() < 0.5 else -1
+
+    def safe_action(self) -> int:
+        """Perform a safe action.Returns ------- int  Guaranteed neutral outcome."""
+        return 0
+
+    def update_risk_preference(self) -> None:
+        """Update risk preference based on recent memory."""
+        if not self.memory:
+            return
+
+        avg_outcome = sum(self.memory) / len(self.memory)
+
+        if avg_outcome < 0:
+            self.risk_preference = max(0.0, self.risk_preference - 0.05)
+        else:
+            self.risk_preference = min(1.0, self.risk_preference + 0.05)
+
+    def step(self) -> None:
+        """Execute one decision step.
+
+        NOTE:
+        This method intentionally mixes decision-making, action execution,
+        memory updates, and learning to demonstrate how behavioral
+        complexity accumulates in current Mesa models.
+        """
+        action = self.choose_action()
+
+        if action == "risky":
+            outcome = self.risky_action()
+            self.memory.append(outcome)
+            self.update_risk_preference()
+        else:
+            self.safe_action()
diff --git a/examples/adaptive_risk_agents/model.py b/examples/adaptive_risk_agents/model.py
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+++ b/examples/adaptive_risk_agents/model.py
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+from __future__ import annotations
+
+from mesa import Model
+
+from examples.adaptive_risk_agents.agents import AdaptiveRiskAgent
+
+
+class AdaptiveRiskModel(Model):
+    """A simple model running adaptive risk-taking agents."""
+
+    def __init__(self, n_agents: int = 50, *, seed: int | None = None) -> None:
+        super().__init__(seed=seed)
+
+        # Create agents — Mesa will register them automatically
+        for _ in range(n_agents):
+            AdaptiveRiskAgent(self)
+
+    def step(self) -> None:
+        """Advance the model by one step."""
+        self.agents.shuffle_do("step")
diff --git a/examples/adaptive_risk_agents/run.py b/examples/adaptive_risk_agents/run.py
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+"""Run script for the Adaptive Risk Agents example.
+
+This script runs the model for a fixed number of steps and prints
+aggregate statistics to illustrate how agent behavior evolves over time.
+
+Intentionally simple:
+- No DataCollector
+- No batch_run
+- No visualization
+"""
+
+from __future__ import annotations
+
+from examples.adaptive_risk_agents.model import AdaptiveRiskModel
+
+
+def run_model(*, n_agents: int = 50, steps: int = 100, seed: int | None = None) -> None:
+    """Run the AdaptiveRiskModel and print summary statistics."""
+    model = AdaptiveRiskModel(n_agents=n_agents, seed=seed)
+
+    for step in range(steps):
+        model.step()
+
+        total_risk = 0.0
+        count = 0
+
+        for agent in model.agents:
+            total_risk += agent.risk_preference
+            count += 1
+
+        avg_risk = total_risk / count if count > 0 else 0.0
+
+        if step % 10 == 0:
+            print(f"Step {step:3d} | Average risk preference: {avg_risk:.3f}")
+
+
+if __name__ == "__main__":
+    run_model()
diff --git a/examples/adaptive_risk_agents/tests/test_agent_smoke.py b/examples/adaptive_risk_agents/tests/test_agent_smoke.py
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+from examples.adaptive_risk_agents.model import AdaptiveRiskModel
+
+
+def test_agent_methods_execute():
+    model = AdaptiveRiskModel(n_agents=1, seed=1)
+    agent = next(iter(model.agents))
+
+    action = agent.choose_action()
+    assert action in {"safe", "risky"}
+
+    agent.step()  # should not crash
diff --git a/examples/adaptive_risk_agents/tests/test_smoke.py b/examples/adaptive_risk_agents/tests/test_smoke.py
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+"""Smoke tests for the Adaptive Risk Agents example.
+
+These tests only verify that the example runs without crashing.
+They intentionally avoid checking model outcomes or behavior.
+"""
+
+from examples.adaptive_risk_agents.model import AdaptiveRiskModel
+
+
+def test_model_initializes():
+    model = AdaptiveRiskModel(n_agents=10, seed=42)
+    assert model is not None
+
+
+def test_model_steps_without_error():
+    model = AdaptiveRiskModel(n_agents=10, seed=42)
+    for _ in range(5):
+        model.step()