Time-dependent gambling: Odds now, money later

Michael D. Sagristano, Yaacov Trope, Nira Liberman

Research output: Contribution to journalArticle

Abstract

Four experiments investigated temporal changes in the influence of probability and payoffs on gambling. Using urn draws, the authors found in Experiment 1 that temporal distance increased the influence of payoffs and decreased the influence of probability on preferences. The authors found in Experiment 2 that in choosing among the more distant gambles, participants offered more reasons dealing with payoffs and fewer reasons dealing with probability. In Experiments 3 and 4, the authors extended the scope of these findings using a card game and a raffle. The results were interpreted in terms of a temporal construal process that highlights the desirability of outcomes in the distant future and the feasibility of attaining the outcomes in the near future.

Original languageEnglish (US)
Pages (from-to)364-376
Number of pages13
JournalJournal of Experimental Psychology: General
Volume131
Issue number3
DOIs
StatePublished - Sep 2002

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Gambling

ASJC Scopus subject areas

  • Psychology(all)
  • Experimental and Cognitive Psychology

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Time-dependent gambling : Odds now, money later. / Sagristano, Michael D.; Trope, Yaacov; Liberman, Nira.

In: Journal of Experimental Psychology: General, Vol. 131, No. 3, 09.2002, p. 364-376.

Research output: Contribution to journalArticle

Sagristano, Michael D. ; Trope, Yaacov ; Liberman, Nira. / Time-dependent gambling : Odds now, money later. In: Journal of Experimental Psychology: General. 2002 ; Vol. 131, No. 3. pp. 364-376.
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