Accession Number : AD0764495

Title :   The Effect of Probability Preferences in Gambling Situations.

Descriptive Note : Master's thesis,

Corporate Author : NAVAL POSTGRADUATE SCHOOL MONTEREY CALIF

Personal Author(s) : Lindstrom,Jerry Duane

Report Date : JUN 1973

Pagination or Media Count : 36

Abstract : An experiment was run to examine the main factors determining choices among bets in gambling situations. In the first experiment, where all the bets had an equal expected value, a specific set of preferences among probabilities was observed. The most important of these is a preference for a 4/8 probability of wining and an avoidance of a 6/8 probability of winning. In the seond experiment, where all bets had differing expected values, it was shown that both preferences for bets with higher expected values and preferences among probabilities influence subjects' choices. (Author)

Descriptors :   (*PROBABILITY, GAME THEORY), ANALYSIS OF VARIANCE, REGRESSION ANALYSIS, DECISION THEORY, MATHEMATICAL MODELS, THESES

Subject Categories : Statistics and Probability
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE