Laboratory Simulated Gambling: Risk Varies Across Participant-Stake Procedure

ABSTRACT. This study investigated whether risk taking on a laboratory gambling task differed depending on whether participants gambled with earned or experimenter-provided game credits. Participants made repeated choices between two options, one to wager game credits on a game that produced probabilistic gains and losses, and one to gain game credits with certainty. Choice was investigated across stake and no-stake conditions and condition order was counterbalanced across conditions. Risk taking was higher under stake than no-stake conditions, but only when stake conditions were experienced first. There was no effect on risk taking of the amount of the certain gain. Results are consistent with previous research showing that participant-stake procedures promote greater risk taking than procedures that allow participants to gamble with their own earnings, and also show that experience gambling with earned credits has an enduring effect on risk taking.     

第三方惩罚对合作的溢出效应：基于社会规范的解释

第三方惩罚对合作的维系可能来自经济功能或规范提示功能。先前研究没有区分这两种功能, 因而未能回答：当惩罚不足以影响违规收益时, 是否还能促进合作?实验1 (N = 252)发现即使第三方惩罚无法降低违规收益, 依然能抑制自利行为。实验2 (N = 179)发现受过惩罚的违规者在其后的独裁者博弈表现出了更高的合作水平。2(是否旁观惩罚)×2(旁观前后)设计的实验3 (N = 179)显示, 旁观惩罚后被试的合作水平显著高于旁观前, 也高于未旁观惩罚的被试。后两个实验中, 社会规范在惩罚与合作之间均起中介作用。这进一步证实惩罚对合作的促进在很大程度上是通过规范激活来实现的, 并存在两种溢出效应：惩罚抑制了曾经的违规者(纵向溢出效应)和旁观者(横向溢出效应)在新博弈情境下的自私行为。这两种溢出效应的发现补充了文献中占主导地位的经济学解释, 并为理解人类社会长时间、大规模的合作提供了新视角。     

传言对人际信任影响的泛化效应

本研究使用学习-测试范式考察传言对人际信任影响的泛化效应。学习阶段,被试对中性面孔和不同效价的传言或真实信息进行配对学习;测试阶段,被试作为投资者与陌生对家完成信任投资游戏,对家面孔与学习面孔具有40%相似性。结果发现,传言能够影响学习面孔的信任,并调节与学习面孔相似的对家面孔的信任投资;同时,传言对信任投资的影响只发生在女性对家身上。上述发现揭示传言对人际信任能够进行选择性泛化。     

Preferences for token exchange‐production schedules: Effects of task difficulty and token‐production schedules

Previous research suggests that accumulated exchange‐production schedules promote increased work completion and are more preferred than distributed exchange‐production schedules. The purpose of this study was to evaluate whether the response effort or token‐production schedules associated with token delivery influenced preferences for exchange‐production schedules. Tokens exchanged under accumulated schedules were more preferred, relative to distributed schedules, when tokens were earned for completing easy tasks. When participants earned tokens for completing difficult tasks, two of three participants preferred accumulated exchange‐production schedules (Experiment 1). Under dense token‐production schedules, accumulated exchange‐production schedules were preferred, but participant's preferences switched to distributed schedules under increasing token‐production (i.e., leaner) schedules (Experiment 2).     

Third-party punishment: altruistic and anti-social behaviours in in-group and out-group settings

This study aims at exploring the decision-making process involved in third-party punishment (TPP) within an economic frame, using the TPP game. We investigated altruistic punishment, that is, the behaviour of spending one's own money, with no personal gain, to punish those who violate the norms of cooperation. We analysed this behaviour, in an in-group and out-group game setting, to compare how individuals behave with members of their own group (in-group) and with members of another group (out-group). In particular, groups were defined on a real nationality basis (Chinese or Italian). Our results showed altruistic punishment behaviour in both experimental groups and this tendency emerged as more prominent when faced with unfair play towards a member of one's own group. Furthermore, both groups exhibited a propensity for anti-social punishment behaviour: many participants spent small amounts of money to punish fair behaviour, regardless of national group membership.     

RISKY CHOICE IN PIGEONS AND HUMANS: A CROSS‐SPECIES COMPARISON

Pigeon and human subjects were given repeated choices between variable and adjusting delays to token reinforcement that titrated in relation to a subject's recent choice patterns. Indifference curves were generated under two different procedures: immediate exchange, in which a token earned during each trial was exchanged immediately for access to the terminal reinforcer (food for pigeons, video clips for humans), and delayed exchange, in which tokens accumulated and were exchanged after 11 trials. The former was designed as an analogue of procedures typically used with nonhuman subjects, the latter as an analogue to procedures typically used with human participants. Under both procedure types, different variable‐delay schedules were manipulated systematically across conditions in ways that altered the reinforcer immediacy of the risky option. Under immediate‐exchange conditions, both humans and pigeons consistently preferred the variable delay, and indifference points were generally ordered in relation to relative reinforcer immediacies. Such risk sensitivity was greatly reduced under delayed‐exchange conditions. Choice and trial‐initiation response latencies varied directly with indifference points, suggesting that local analyses may provide useful ancillary measures of reinforcer value. On the whole, the results indicate that modifying procedural features brings choices of pigeons and humans into better accord, and that human—nonhuman differences on risky choice procedures reported in the literature may be at least partly a product of procedural differences.     

方言对社会决策及情绪的影响——-来自电生理的证据

方言是心理学本土化研究的新方向,本研究旨在考察语言类型（方言、普通话）对群体和个体社会决策的影响。实验1通过改编的公共物品博弈范式,发现方言条件下信任与合作水平、主观评定积极情绪和心率的变化值更大,皮肤电无显著变化;普通话条件下信任在主观消极情绪评定和合作行为间发挥着完全中介作用。实验2利用改编的最后通牒博弈范式,发现不公平的￥2-￥8分配方案下方言条件的接受率显著高于普通话条件,提议越公平接受率越高。结果表明方言会影响人们认知、情绪和决策行为,研究为语言和决策领域的探索提供了新思路。     

金钱概念激活与金钱功能偏好对自我损耗后利他的影响

金钱启动能够提高自我损耗后个体的利他,而金钱功能也可能对损耗后个体利他产生不可忽视的影响。实验让处于自我损耗状态的被试数金钱或白纸,然后测量其利他水平及其对金钱功能的内隐偏好。结果证实了金钱启动的积极效应。此外,在数金钱和数白纸两种条件下,金钱象征性功能偏好对自我损耗后个体利他的效应是相反的。这表明,激活金钱概念与偏好金钱象征性功能都有可能补偿自我损耗后的消极影响,但两者的补偿作用是相互独立的。     

The effects of near wins and near losses on self-perceived personal luck and subsequent gambling behavior

Which person would be most likely to continue gambling? A person who has just experienced a big win or a person who has just experienced a big loss? The answer appears often to be whichever gambler feels personally luckier. Two experiments investigated how perceptions of luck, understood as a personal quality, are affected by near, but unrealized outcomes during a game of chance. In Experiment 1, a near big loss at a gambling game heightened perceptions of personal luck relative to a near big win, even though all participants actually won the same modest amount. In addition, participants who experienced a near big loss generated significantly more downward counterfactuals than did those participants in the near big win condition. Most importantly, differences in self-perceived luck influenced future gambling behavior. Participants who experienced a near big loss on a wheel-of-fortune wagered significantly more on the outcome of a subsequent game of roulette than did those participants who experienced a near big win. Experiment 2 extended these results by testing the possible influence of a different type of near outcome and by including a control group. The discussion focuses on the emerging picture of how people understand luck.     

Selfish or servant leadership? Evolutionary predictions on leadership personalities in coordination games

We study the personalities of emergent leaders in two coordination games in groups of four players each with monetary incentives. Our results support the evolutionary hypothesis that leadership is a social good for the group: leadership benefits followers but is potentially costly for the individual taking on the leader role. Across the two economic games leaders do less well - earn less money - on average than followers. Furthermore, social participants choose to lead more often than selfish participants and there is no relationship between leadership behavior and personal dominance. Our results support the idea that leadership can be servant rather than selfish and we note the implications of this finding.     

Individual differences in banknote processing: the role of altruism

We evaluated whether banknotes processing depended on altruism and attitude towards money. In Experiment 1, context effects were examined when participants named banknotes blocked by category or intermixed with pictures from semantic categories. Attitude towards money was assessed by questionnaires and the degree of altruism was evaluated with the dictator game task. In this task, participants received an amount of money and they had to decide whether to donate all, nothing or part of it. A facilitation effect was found in the banknote naming task and this effect increased as the amount of donations decreased. In Experiment 2, we examined whether less altruistic individuals might focus on the relevant information needed to process banknotes in a monetary Stroop task. Only more altruistic individuals showed Stroop effects. These results are interpreted as due to enhanced control while processing relevant information associated to banknotes in less altruistic individuals.     

How Does Explicit Versus Implicit Risk Information Influence Adolescent Risk‐Taking Engagement?

Adolescents have been shown to be more likely to engage in risky behaviors in daily life. Many studies have indicated that adolescents could make advantageous choices when they receive explicit information but could fail to choose advantageously when they are not informed about risks. The current study aimed to examine the influence of explicit risk information (i.e., when risk information is directly available) versus implicit risk information (i.e., when risk information has to be learned from feedback) on risk‐taking engagement, in order to clarify whether the enhanced risk‐taking observed in decision making under ambiguity in adolescents results from either a greater exploration of ambiguous situations (i.e., a higher ambiguity tolerance) or a specific difficulty associated with learning based on previous choices' outcomes. Adolescents and young adults completed a new adaptation of the Balloon Analogue Risk Task. They were required to accumulate as many points as possible by inflating balloons associated with variable break points and avoiding explosions. This adaptation involved a manipulation of the information level with two conditions, an “informed” condition and a “noninformed” condition, in which the participants had to learn the matching of colors with balloons' resistances based on feedback. The results demonstrated that providing explicit risk information allows adolescents to be as efficient as adults at the end of the game. In contrast, adolescents failed to adjust risk‐taking to the balloon resistance in the noninformed condition. These findings critically suggest that this failure reflects a specific impairment of feedback‐based learning ability but not a global excess of risk‐taking during adolescence. Copyright © 2017 John Wiley & Sons, Ltd.     

Monetary Wisdom: How Do Investors Use Love of Money to Frame Stock Volatility and Enhance Stock Happiness?

Monetary intelligence asserts: individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. Bridging the gap between stock volatility and behavioral economics, we collected longitudinal data from multiple sources and at multiple times: First, private investors (N = 229) in Shanghai—the financial capital of China—completed their love of money attitude measure (Rich-affect, Motivator-behavior, and Importance-cognition) and demographic variables in a survey. Second, we recorded daily Shanghai Stock Exchange Composite Index (“the Index”) for 30 consecutive trading days during the financial crisis in 2008—public records. Third, we text-messaged investors, collecting their daily Index Happiness, Stock Percentage (stocks/liquid assets), and Stock Happiness—private information. Here, investors illustrate: high Rich investors fret about low Index happiness, yet high Rich and high Importance investors boast high stock happiness, supporting the endowment effect and investor hubristic smirk. High Motivator investors quickly adjust their stock percentage/portfolio, suffering low Index happiness and low stock happiness. Gender moderates the relationship between the Index and Index happiness. Our panel data of intra-personal changes of stock happiness demonstrate investor monetary wisdom in the boom-and-bust cycles. Behaviorally, investor must become masters (but not slaves) of money and deactivate money as a Motivator. Curbing the desire to become Rich enhances happiness after gains (boom/risk aversion); appreciating money’s Importance bestows happiness after losses (bust/risk seeking). We expand prospect theory and offer implications to investor wealth, health, and happiness during financial crisis in particular as well as individual subjective well-being and happiness in general.     

我会在谁面前舍弃利益?——博弈对象的能力与社会距离对名利博弈倾向的影响

通过构造虚拟的捐献情境及贸易情境,结合博弈任务,以大学生为被试探讨了名利博弈对象的能力和社会距离对名利博弈中博弈者的博弈行为倾向的影响。结果表明,在捐献情境下,被试在高能力的名利博弈对象面前比在低能力的名利博弈对象面前更倾向于做出接近自己半数报酬的捐献行为,牺牲利益以获取好名声。在贸易情境下存在名利博弈对象的能力与社会距离的交互作用,被试仅在面对低能力的名利博弈对象时会考虑社会距离因素,在社会距离近的名利博弈对象面前比在社会距离远的名利博弈对象面前提出更低的售价,牺牲自己的利益以获得好名声。研究结果初步证实名利博弈对象能力与社会距离对名利博弈具有重要影响以及个体在名利博弈中具有策略性。     

Consumer Disclosure and Disclosure Avoidance: A Motivational Framework

In this research, we investigate consumers’ motivations for disclosing personal information to relationship‐seeking marketers. We explore the impact of consumers’ relationship perceptions, the nature of benefits offered by marketers in exchange for requested information, and the type of information requested on consumers’ disclosure willingness, focusing on consumers’ forecasts of 2 types of potential disclosure‐related loss (i.e., loss of privacy and loss of face), which are shown to mediate this decision. The results of an experiment revealed that although participants with relatively deep relationship perceptions were more likely to reveal “privacy‐related” personal information, they were more reluctant to reveal embarrassing information. The findings also suggest that although loyal customers found the exchange of privacy‐related personal information for customized benefit offerings (relative to noncustomized offerings) attractive, the reverse was true for embarrassing information; these participants seemed to find the exchange of customized offerings for this latter type of information unattractive. We discuss the theoretical and practical implications of the findings for consumer researchers and relationship‐seeking marketing practitioners.     

Risk dishabituation: in repeated gambling, risk is reduced following low-probability "surprising" events (wins or losses)

In path-dependent risk taking, like playing a slot machine, the wager on one trial may be affected by the outcome of the preceding trial. Previous studies have shown that a person's risk-taking preferences may change as a result of the preceding trial (win or loss). For example, the "house money effect" suggests that risk taking may increase after a win, whereas the "break even effect" posits that risk taking increases after a loss. Independent of those findings, a person's emotional state has been found to influence risk taking. For example, the "mood maintenance hypothesis" supports the notion that positive affect decreases risk taking, and related research finds that increased negative affect increases risk taking. Because winning and losing may influence one's emotional state, we sought to investigate how both previous outcomes, as well as a person's emotional responses to those outcomes, independently influence subsequent risk taking. To do this, data were collected using three simplified slot machines where the chance of winning each trial was set to 13%, 50%, and 87%, respectively. Evidence for the break even and house money effects were found on the 13% and 87% games, respectively. Likewise, emotional valence was found to predict risk taking on these two tasks, with emotional valence fully explaining the break even effect observed on the 13% game. In addition to these results, the present research revealed that risk taking is reduced following low-probability ("surprising") events (i.e., a win in the 13% condition or loss in the 87% condition). Dubbed "risk dishabituation," this phenomenon is discussed, along with its likely corresponding emotional experience--surprise.     

Sharing losses and sharing gains: Increased demand for fairness under adversity

There is ample experimental evidence showing that people have a strong preference for equity in wealth allocation and social interaction. Although the behavior of gain sharing and responses to (un)fairness in allocation of wealth has been extensively investigated in studies employing economic exchange games, few studies have focused on how people respond to an unfair division of loss between individuals. In this study we developed a new variant of the ultimatum game and examined the participants' reactions to (un)fairness in both gain and loss sharing. Results from three experiments showed that the rejection rates to unfair offers were generally higher in the loss than in the gain domain. Moreover, participants were inclined to associate loss with “unfair” and gain with “fair”, with stronger associations leading to higher rejection rates in the ultimatum game. Furthermore, in subjective rating, unfair offers were perceived as being more unfair in the loss than in the gain domain. These results demonstrate an increased demand for fairness under adversity and the importance of justice in liability sharing.     

4～6岁幼儿经济博弈中的信任行为及其影响因素

本研究通过两个实验考察幼儿是否在博弈任务中表现出对陌生人的信任行为,同时考察可能对幼儿的信任产生影响的因素,包括个体认知因素(观点采择)和环境因素(负性反馈和代际传递)。研究对189名4~6岁幼儿及其家长进行多种任务的测量。实验一通过修订Evans和Krugger(2011)的信任博弈任务,考察幼儿在匿名信任博弈中的信任行为,结果发现与4岁幼儿相比,6岁幼儿对他人的信任更低;实验二考察了幼儿信任的影响因素,结果发现,幼儿在得到负性反馈结果后再次进行信任博弈任务时,他们对他人的信任比前次有所降低,6岁幼儿对他人返还数量的预期比4岁幼儿下降程度更大;6岁幼儿的信任行为(第一次给出意愿)与观点采择能力显著相关;6岁幼儿的信任水平与家长的信任水平显著相关。     

不同博弈情境下社会排斥对社会决策的影响作用

本研究借助经典的最后通牒博弈范式(UG)和独裁者博弈范式(DG),将回应者/接受者作为研究对象,考察了不同公平条件、平等条件下社会排斥对社会决策的影响作用。实验结果发现:(1)在面对高不公平性的分配方案时,被排斥组比被接纳组更倾向于拒绝接受该分配方案;(2)被排斥组对高不公平性分配方案的满意度要显著低于被接纳组;(3)被排斥组在不平等的博弈(DG)条件下对分配方案的满意度显著低于平等博弈(UG)条件下对分配方案的满意度。本研究结果说明,社会排斥情境下的被试对公平与平等因素更加敏感:在高不公平条件下,被排斥的个体表现出更少的合作互惠行为,甚至不惜放弃自身经济利益,也要惩罚博弈对方的不公平行为;此外,在不平等的博弈条件下,被排斥的个体产生了更多的消极情绪体验。本文的研究结果提高了社会决策研究的生态效度和传统决策模型的预测效度,有利于更加完整透彻地了解社会决策的影响因素。     

Hungry for money: the desire for caloric resources increases the desire for financial resources and vice versa

This report attempts to provide an evolutionary explanation for humans' motivation to strive for money in present-day societies. We propose that people's desire for money is a modern derivate of their desire for food. In three studies, we show the reciprocal association between the incentive value of food and of money. In Study 1, hungry participants were less likely than satiated participants to donate to charity. In Study 2, participants in a room with an olfactory food cue, known to increase the desire to eat, offered less money in a give-some game compared with participants in a room free of scent. In Study 3, participants' desire for money affected the amount of M&M's they ate in a subsequent taste test, but only among participants who were not restricting their food intake in order to manage their weight.