More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task
Previous research indicates that when people participate in multi-trial games of chance, the results of previous trials impact subsequent wager size. For example, the “house money” and “break even” effects suggest that an individual’s risk-taking propensity increases when financially winning or losi...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2018-11-01
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| Series: | Frontiers in Psychology |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/article/10.3389/fpsyg.2018.02116/full |
| _version_ | 1828381791195496448 |
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| author | James Juergensen Joseph S. Weaver Christine N. May Heath A. Demaree |
| author_facet | James Juergensen Joseph S. Weaver Christine N. May Heath A. Demaree |
| author_sort | James Juergensen |
| collection | DOAJ |
| description | Previous research indicates that when people participate in multi-trial games of chance, the results of previous trials impact subsequent wager size. For example, the “house money” and “break even” effects suggest that an individual’s risk-taking propensity increases when financially winning or losing during a gambling session. Additionally, the “mood maintenance hypothesis” and affect regulation hypothesis suggest that people in positive and negative affective states are less and more likely to gamble than when in neutral affective states, respectively. In the present study, participants completed a series of trials on three computerized slot machines with varying expected values (EV; −10, 0, +10%) of return on investment, and they were paid a percentage of their final bankrolls in real money. Although results did not support the “house money” or “break even” effects, the “mood maintenance hypothesis” was robustly supported in all EV conditions. This is some of the first evidence supporting this theory using an ecologically valid, real-money gambling task. |
| first_indexed | 2024-12-10T04:21:28Z |
| format | Article |
| id | doaj.art-a265fccad57c41f190f9199d9fcd16e1 |
| institution | Directory Open Access Journal |
| issn | 1664-1078 |
| language | English |
| last_indexed | 2024-12-10T04:21:28Z |
| publishDate | 2018-11-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Psychology |
| spelling | doaj.art-a265fccad57c41f190f9199d9fcd16e12022-12-22T02:02:25ZengFrontiers Media S.A.Frontiers in Psychology1664-10782018-11-01910.3389/fpsyg.2018.02116392952More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling TaskJames Juergensen0Joseph S. Weaver1Christine N. May2Heath A. Demaree3Department of Psychology, Youngstown State University, Youngstown, OH, United StatesDepartment of Psychology, University Center, Saginaw Valley State University, Saginaw, MI, United StatesDepartment of Psychology, Springfield College, Springfield, MA, United StatesDepartment of Psychological Sciences, Case Western Reserve University, Cleveland, OH, United StatesPrevious research indicates that when people participate in multi-trial games of chance, the results of previous trials impact subsequent wager size. For example, the “house money” and “break even” effects suggest that an individual’s risk-taking propensity increases when financially winning or losing during a gambling session. Additionally, the “mood maintenance hypothesis” and affect regulation hypothesis suggest that people in positive and negative affective states are less and more likely to gamble than when in neutral affective states, respectively. In the present study, participants completed a series of trials on three computerized slot machines with varying expected values (EV; −10, 0, +10%) of return on investment, and they were paid a percentage of their final bankrolls in real money. Although results did not support the “house money” or “break even” effects, the “mood maintenance hypothesis” was robustly supported in all EV conditions. This is some of the first evidence supporting this theory using an ecologically valid, real-money gambling task.https://www.frontiersin.org/article/10.3389/fpsyg.2018.02116/fullrisk-takingaffectmood-maintenancehouse moneybreak even |
| spellingShingle | James Juergensen Joseph S. Weaver Christine N. May Heath A. Demaree More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task Frontiers in Psychology risk-taking affect mood-maintenance house money break even |
| title | More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task |
| title_full | More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task |
| title_fullStr | More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task |
| title_full_unstemmed | More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task |
| title_short | More Than Money: Experienced Positive Affect Reduces Risk-Taking Behavior on a Real-World Gambling Task |
| title_sort | more than money experienced positive affect reduces risk taking behavior on a real world gambling task |
| topic | risk-taking affect mood-maintenance house money break even |
| url | https://www.frontiersin.org/article/10.3389/fpsyg.2018.02116/full |
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