Universidad de Granada. Departamento de Teoría e Historia Económica
Abstract
We study individual decision making in a lot
tery-choice task performed by three
subject populations: gamblers under psychol
ogical treatment (“addicts”), gamblers’
relatives (“victims”), and normal (as far
as gambling is considered) individuals. We
find that addicts are willing to take less risk than normal individuals, but the large
majority of victims reports themselves unwilling to take any risk at all. Furthermore, both addicts and victims maintain their choices invariant across different scenarios concerning the risk-return tradeoff
