Near-wins and near-losses in gambling: a behavioral and facial EMG study.

This is thefinal published version. It originally appeared at http://onlinelibrary.wiley.com/doi/10.1111/psyp.12336/abstract.This study investigated responses to near-wins (i.e., nonwin outcomes that were close to a major win, and their counterpart, near-losses (nonwin outcomes that are proximal to a major loss) in a decision-making task, measuring (a) luck ratings, (b) adjustment of bet amount, and (c) facial muscle reactivity at zygomaticus and corrugator sites. Compared to full-misses, near-wins decreased self-perceived luck and near-losses increased self-perceived luck, consistent with the effects of upward versus downward counterfactual thinking, respectively. Wins and losses both increased zygomaticus reactivity, and losses selectively enhanced corrugator reactivity. Near-wins heightened zygomaticus activity, but did not affect corrugator activity, thus showing a similar response pattern to actual wins. There were no significant facial EMG effects of near-losses. We infer that near-wins engender some appetitive processing, despite their objective nonwin status.This work was completed within University of Cambridge Behavioural and Clinical Neuroscience Institute (director: TW Robbins), supported by a consortium award from the Medical Research Council (MRC) and Wellcome Trust. Y.W. was supported by a Chinese Scholarship Council – Cambridge International Scholarship and the Treherne Studentship in Biological Sciences from Downing College, Cambridge. The Centre for Gambling Research at UBC is supported by an award from the British Columbia Lottery Corporation and the British Columbia Government

Number preferences in lotteries

We explore people's preferences for numbers in large proprietary data sets from two different lottery games. We find that choice is far from uniform, and exhibits some familiar and some new tendencies and biases. Players favor personally meaningful and situationally available numbers, and are attracted towards numbers in the center of the choice form. Frequent players avoid winning numbers from recent draws, whereas infrequent players chase these. Combinations of numbers are formed with an eye for aesthetics, and players tend to spread their numbers relatively evenly across the possible range

Gender Differences in the Endowment Effect: Women Pay Less, but Won't Accept Less

We explore different contexts and mechanisms that might promote or alleviate the gender effect in risk aversion. Our main result is that we do not find gender differences in risk aversion when the choice is framed as a willingness-to-accept (WTA) task. When the choice is framed as a willingness-to-pay (WTP) task, men are willing to pay more and thus exhibit lower risk aversion. However, when the choice is framed as a willingness to accept task, women will not accept less than men. These findings imply gender differences in the endowment effect. We also find that the effect size of the gender difference in risk aversion is reduced or eliminated as the context changes from tasks framed as gambles to other domains; and that attitudes toward gambling mediate the gender effect in gambling framed tasks.;We explore different contexts and mechanisms that might promote or alleviate the gender effect in risk aversion. Our main result is that we do not find gender differences in risk aversion when the choice is framed as a willingness-to-accept (WTA) task. When the choice is framed as a willingness-to-pay (WTP) task, men are willing to pay more and thus exhibit lower risk aversion. However, when the choice is framed as a willingness to accept task, women will not accept less than men. These findings imply gender differences in the endowment effect. We also find that the effect size of the gender difference in risk aversion is reduced or eliminated as the context changes from tasks framed as gambles to other domains; and that attitudes toward gambling mediate the gender effect in gambling framed tasks.;We explore different contexts and mechanisms that might promote or alleviate the gender effect in risk aversion. Our main result is that we do not find gender differences in risk aversion when the choice is framed as a willingness-to-accept (WTA) task. When the choice is framed as a willingness-to-pay (WTP) task, men are willing to pay more and thus exhibit lower risk aversion. However, when the choice is framed as a willingness to accept task, women will not accept less than men. These findings imply gender differences in the endowment effect. We also find that the effect size of the gender difference in risk aversion is reduced or eliminated as the context changes from tasks framed as gambles to other domains; and that attitudes toward gambling mediate the gender effect in gambling framed tasks.;We explore different contexts and mechanisms that might promote or alleviate the gender effect in risk aversion. Our main result is that we do not find gender differences in risk aversion when the choice is framed as a willingness-to-accept (WTA) task. When the choice is framed as a willingness-to-pay (WTP) task, men are willing to pay more and thus exhibit lower risk aversion. However, when the choice is framed as a willingness to accept task, women will not accept less than men. These findings imply gender differences in the endowment effect. We also find that the effect size of the gender difference in risk aversion is reduced or eliminated as the context changes from tasks framed as gambles to other domains; and that attitudes toward gambling mediate the gender effect in gambling framed tasks.