Betting at the Race Track: Does Risk Seeking Increase When Losses Accumulate?
Perceptual and Motor Skills, 1994, 78, 1248-1250
3 Pages Posted: 18 Mar 2014
Date Written: March 17, 2014
Previous research has shown that prior outcomes affect choices in an inconsistent way. As a consequence, a prior loss decreased risk seeking among participants at the end of a betting sequence, which is a time when people are believed to be more risk seeking.
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