An empirical investigation of wagering behavior in a large sample of slot machine gamblers

Salaghe, Florina; Sundali, James A.; Nichols, Mark W.; Guerrero, Federico

doi:10.1016/j.jebo.2019.11.024

Cited by 9 publications

(11 citation statements)

References 38 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Like peaks ( 2 ), streaks capture a disproportionate share of attention ( 38 ). Moreover, streaks disproportionately influence financial decision making ( 39 – 41 ), especially for relatively long streaks consisting of three or more events ( 42 ). However, people’s intuitions about streaks are often inaccurate, even among academic experts ( 43 ), and it is unclear a priori how to identify which streaks will be intuitively perceived by people as meaningful streaks ( 42 ).…”

Section: Methodsmentioning

confidence: 99%

The streak-end rule: How past experiences shape decisions about future behaviors in a large-scale natural field experiment with volunteer crisis counselors

Kang

Daniels

Schweitzer

2022

Proc. Natl. Acad. Sci. U.S.A.

View full text Add to dashboard Cite

Decisions about future behaviors are clearly shaped by the content of past experiences, but whether the order of past experiences matters remains controversial. By analyzing the largest field experiment about prosocial behavior to date, a natural field experiment involving 14,383 volunteer crisis counselors over five years, we examine how the content and order of past experiences causally influence decisions about future behaviors — whether individuals continue volunteering or quit. Volunteers were repeatedly and randomly assigned to perform 1,976,649 prosocial behaviors that were either harder (suicide conversations) or easier (non-suicide conversations). We found that the content of past experiences mattered: Harder (versus easier) behaviors encouraged quitting. However, the order of past experiences mattered far beyond their content alone: Harder behaviors caused disproportionately more quitting if they came in long “streaks” or at the “end.” These “streak”/“end” effects reveal important practical insights for leaders and policymakers seeking to boost prosocial behavior. For instance, a reordering intervention — assigning behaviors so as to avoid creating hard “streaks” — would reduce volunteer quitting rates by at least 22%, boosting prosocial behavior and likely saving lives.

show abstract

Section: Methodsmentioning

confidence: 99%

The streak-end rule: How past experiences shape decisions about future behaviors in a large-scale natural field experiment with volunteer crisis counselors

Kang

Daniels

Schweitzer

2022

Proc. Natl. Acad. Sci. U.S.A.

View full text Add to dashboard Cite

show abstract

“…Overall, prior studies using bet-by-bet gambling data have observed loss chasing patterns on the amount bet (Chen et al, 2022;Narayanan & Manchanda, 2012;Salaghe et al, 2020), coupled with limited evidence for chasing in terms of continuing versus quitting, and varying effects following wins. Clearly, gamblers can chase in one expression while not chasing in another.…”

Section: Introductionmentioning

confidence: 91%

“…Salaghe et al (Salaghe et al, 2020) also examined bet amount changes in land-based slot machine plays among 42,669 gamblers and found rather different chasing patterns from Narayanan and Manchanda (Narayanan & Manchanda, 2012). They plotted gambling trajectories across winning and losing streaks.…”

Section: Introductionmentioning

confidence: 99%

Within-session chasing of losses and wins in an online eCasino

Zhang,

Rights,

Deng

et al. 2023

Preprint

View full text Add to dashboard Cite

Chasing refers to the escalation of betting behaviour. It is conventionally seen when losing (loss chasing) but can also be seen after wins. Diagnostic and screening items for gambling problems describe chasing as returning ‘another day’ to gamble, i.e. between-session chasing. However, gamblers may also chase outcomes within sessions, and this may be particularly relevant in the online gambling environment. The current study focused on two expressions of within-session chasing: i) increasing the bet amount, or ii) a reduced probability of quitting the session, as a function of prior losses or wins. These expressions were examined across five categories of online gambling products: slot machines, probability games, blackjack, video poker, and roulette. For losses, gamblers tended to bet more, and played longer sessions, after immediate losses, but they reduced their bet and played shorter sessions when losing cumulatively. The reversed patterns in the cumulative model may be due to financial constraints on the gambler. For wins, gamblers played shorter sessions as a function of both immediate and cumulative wins, but they also increased the bet amount when winning. Chasing patterns were fairly similar across the different product categories, and we saw limited evidence for our hypothesis that chasing is greatest for online slot machines as an established high-risk category. Overall, chasing was seen to be a multi-faceted construct, varying across these two behavioural expressions, by the immediate or cumulative timeframe of prior outcomes, and by game type.

show abstract

“…Pathological gambling or "gambling disorder" is categorised as substance-related and addictive disorder where one diagnostic criteria is somebody "needs to gamble with increasing amounts of money in order to achieve the desired excitement". In empirical investigation, gamblers significantly increase their bet sizes after win streaks, with the largest increase after three wins in a row (Salaghe et al, 2020). Based on that slight explanation, as people taking risk more frequently in the form of gambling, the probability of getting addictive disorder is high.…”

Section: Risk Takingmentioning

confidence: 99%

Rethinking Human Development Based on Ar Ra’d Verse 11: How Can Preferences Influence Human Development?

Kafabih

Wildana

2022

JAM

View full text Add to dashboard Cite

As human is the centre of development process, it is important to consider preferences of human behavior whether they prefer to change themselves or not. This explanation is inspired by Qur’an surah Ar Ra’d verse 11 that can be interpreted as the set of preferences which might influence someone’s state of condition. However, human development index which is widely used indicator for development study do not consider preference as the main factor of development. Therefore aim of this study is to examine interpretation of that surah whether set of preferences that consist of trust, altruism, patience, risk taking, and negative reciprocity, can influence the state of human development. This research Uses Linear Probability Model (LPM) which is estimated by OLS with 76 countries as observation. The result shows that altruism, patience and risk taking can influence human development significantly, whereas trust and negative reciprocity are not significant. Trust is not significant because there might be a condition of distrust economic activities, rather than trust, that signaled by complete contractual arrangement, whereas non significant of negative reciprocity might because the costly punishment opportunity to punish someone as the form of negative reciprocity, therefore people that think rationally will not take the revenge to others.

show abstract

An empirical investigation of wagering behavior in a large sample of slot machine gamblers

Cited by 9 publications

References 38 publications

The streak-end rule: How past experiences shape decisions about future behaviors in a large-scale natural field experiment with volunteer crisis counselors

The streak-end rule: How past experiences shape decisions about future behaviors in a large-scale natural field experiment with volunteer crisis counselors

Within-session chasing of losses and wins in an online eCasino

Rethinking Human Development Based on Ar Ra’d Verse 11: How Can Preferences Influence Human Development?

Contact Info

Product

Resources

About