EFFECT OF INSTRUCTION IN EXPECTED VALUE ON OPTIMALITY OF GAMBLING DECISIONS

被引:41
作者
LICHTENSTEIN, S
SLOVIC, P
机构
[1] Research Inst., OR Eugene,
来源
JOURNAL OF EXPERIMENTAL PSYCHOLOGY | 1969年 / 79卷 / 2P1期
关键词
effect of instructions; gambling decisions; optimal betting preference &;
D O I
10.1037/h0026888
中图分类号
B84 [心理学];
学科分类号
04 ; 0402 ;
摘要
73 undergraduates selected the one bet they would most prefer to play from each of 4 sets of bets. Within each set, the bets differed by as much as $1.60 in expected value (EV). In the 1st 2 sets, only the probability of winning and the amount to win were displayed. After Ss selected a bet from each of these sets the concept of EV was explained to them. EV was then presented in conjunction with each bet in the last 2 sets. The Ss' choices were far from optimal. The majority of Ss found EV irrelevant as a guide to action, even when the concept was carefully explained and clearly displayed for them. (PsycINFO Database Record (c) 2006 APA, all rights reserved). © 1969 American Psychological Association.
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页码:236 / +
页数:1
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