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In study 3, the experience sampling method was used to assess momentary self\u2010esteem, emotion and use of different coping styles over a 6\u2010day period.<\/jats:p><\/jats:sec><jats:sec><jats:title>Results<\/jats:title><jats:p>Study 1 demonstrated that hypomanic traits are associated with high fluctuations in self\u2010esteem. In study 2, high scores on both the HPS and the Dysfunctional Attitude Scale, but not the HPS alone, were associated with bipolar spectrum symptoms. These participants showed more evidence of alcohol and substance abuse, greater self\u2010esteem fluctuation and dysfunctional coping styles (rumination and risk\u2010taking) compared with controls. Changes in self\u2010esteem were related to the use of these strategies.<\/jats:p><\/jats:sec><jats:sec><jats:title>Conclusions<\/jats:title><jats:p>Vulnerability to bipolar disorder is associated with a combination of depression\u2010related and reward\u2010related processes. 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