Time-dependent gambling: Odds now, money later

Michael D. Sagristano, Yaacov Trope, Nira Liberman

Research output: Contribution to journalArticlepeer-review

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

ASJC Scopus subject areas

  • Experimental and Cognitive Psychology
  • Psychology(all)
  • Developmental Neuroscience

Fingerprint Dive into the research topics of 'Time-dependent gambling: Odds now, money later'. Together they form a unique fingerprint.

Cite this