Charper 3: Risk preferences in sequential gambling decisions: A study with be ing games with and without requirement of previous effort

Valle, Mauricio A.; Pérez-Acosta, Andrés; Bueno, José L. O.

Charper 3: Risk preferences in sequential gambling decisions: A study with be ing games with and without requirement of previous effort

dc.contributor.author	Valle, Mauricio A.
dc.contributor.author	Pérez-Acosta, Andrés
dc.contributor.author	Bueno, José L. O.
dc.coverage.spatial	New York
dc.date.accessioned	2024-12-10T18:28:33Z
dc.date.available	2024-12-10T18:28:33Z
dc.date.issued	2022
dc.description.abstract	In this chapter, we present the results of two studies involving a series of consecutive decisions in which subjects have the option to play a game or abstain from playing the game in order to maintain the status quo. Both studies are identical, but the second study incorporates the effort requirements to access risk options. According to the Prospect Theory, decisions are dependent on a reference value, and therefore, a subject’s preference for risk depends on whether the subject is in the gain or loss domain with respect to how the game’s outcome is perceived. However, in the case of concurrent decisions, the results obtained immediately prior could alter the relationship between the reference value and the subject’s attitude towards risk, creating a shift in the initial reference point. The results of the first study indicate that the initial endowment of the game is robust. Throughout the sequence of decisions, the endowment remains as a fixed reference point, which determines the risk preferences of the participants. However, in the second study, the effort requirements cause a change in the effect of the initial reference point. We interpret this effect as a change in the slope of the reference value curve.	es
dc.identifier.citation	En: García Cadena, Cirilo; Castro Saucedo, Laura Karina (editors). Research on Hispanic Psychology: Volume 2. Nova, 2022. pp. 55-87.
dc.identifier.doi	https://doi.org/10.52305/VEGS2790
dc.identifier.isbn	9781685075330
dc.identifier.orcid	https://orcid.org/0000-0003-1362-2776
dc.identifier.uri	http://hdl.handle.net/20.500.12254/3986
dc.language.iso	en	es
dc.publisher	Nova	es
dc.rights	Atribución-NoComercial-CompartirIgual 3.0 Chile (CC BY-NC-SA 3.0 CL)
dc.rights.uri	http://creativecommons.org/licenses/by-nc-sa/3.0/cl/
dc.subject	Risk attitudes
dc.subject	Prospect theory
dc.subject	Best
dc.subject	Endowment
dc.subject	Reference point
dc.subject	Effort
dc.subject.other	risk attitudes, prospect theory, bets, endowment, reference point, effort	es
dc.title	Charper 3: Risk preferences in sequential gambling decisions: A study with be ing games with and without requirement of previous effort
dc.type	Capítulo de libro	es