Response-Induced Reversals of Preference in Gambling: An Extended Replication in Las Vegas, No. 6
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Date
1972-12
Authors
Lichtenstein, Sarah
Slovic, Paul
Journal Title
Journal ISSN
Volume Title
Publisher
Oregon Research Institute
Abstract
Previous experiments, studying college students in a laboratory setting , have demonstrated the effects of response mode upon information-processing strategies employed in gambling decisions. The present experiment extended , in a Las Vegas casino, the findings of the previous studies . As in the laboratory , the casino patrons were found to employ different strategies when choosing among pairs of bets than when attaching monetary values to single bets. This behavior led to reversals of preference as a function of response mode . The reversals were found for bets with negative as well as positive expected value . These results suggest a bias due to cue-response compatibility that may have implications for information processing in a variety of decision- making situations .
Description
17 pages
Keywords
Las Vegas, response-induced reversals, gambles, reversals of preference, experimental literature