@inproceedings{f48d0468ee624ea9862e54583b4e2e11,
title = "One-shot lotteries in the park",
abstract = "How do people manipulate their environment when balancing trade-offs between probability of success and payoff? Individuals in a city park played a simple lottery using a small set of marbles placed in an urn. Participants had the ability to actively improve their chances of winning but only by reducing the amount of money that they could possibly win. Hence, participants controlled the lottery{\textquoteright}s intuitive trade-off between probability of success and potential payout. Across four different lottery structures, participants, on average, behaved systematically safer than the optimal strategy that maximizes expected gain. We explore two different accounts of this suboptimal choice behavior: probability distortion, and intrinsic utility of winning.",
keywords = "decision making, intrinsic utility of winning, one-shot lottery, probability distortion",
author = "Juni, {Mordechai Z.} and Gureckis, {Todd M.} and Maloney, {Laurence T.}",
note = "Funding Information: MZJ was supported by NIH Grant T32 EY007136. LTM was supported NIH Grant EY019889. TMG was supported by the Intelligence Advanced Research Projects Activity (IARPA) via Department of the Interior (DOI) contract D10PC20023. The U.S. Government is authorized to reproduce and distribute reprints for Governmental purposes notwithstanding any copyright annotation thereon. The views and conclusions contained herein are those of the authors and should not be interpreted as necessarily representing the official policies or endorsements, either expressed or implied, of IARPA, DOI, or the U.S. Government. Publisher Copyright: {\textcopyright} CogSci 2012.All rights reserved.; 34th Annual Meeting of the Cognitive Science Society: Building Bridges Across Cognitive Sciences Around the World, CogSci 2012 ; Conference date: 01-08-2012 Through 04-08-2012",
year = "2012",
language = "English (US)",
series = "Building Bridges Across Cognitive Sciences Around the World - Proceedings of the 34th Annual Meeting of the Cognitive Science Society, CogSci 2012",
publisher = "The Cognitive Science Society",
pages = "1745--1749",
editor = "Naomi Miyake and David Peebles and Cooper, {Richard P.}",
booktitle = "Building Bridges Across Cognitive Sciences Around the World - Proceedings of the 34th Annual Meeting of the Cognitive Science Society, CogSci 2012",
}