Thaler gambling with the house money

Thaler gambling with the house money casino indian wells

Accordingly, bets with a higher house edge, those which have a higher payout and are ultimately more risky, may become more attractive.

MorgensternTheory of Games and Economic Behavior Princeton University Press. The Podcast Reviews myVegas Monfy Hour About Contact. No Deal Post et al. Cambridge, MA: Harvard University Press, Statistically, however, we are still more likely to lose than win. Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice. Subscribe to this free journal for more curated articles on this topic.

Thaler, A. H., and E. J. Johnson, ' Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice, Management Science. Так, Р. Талер и Е. Джонсон (Thaler and Johnson, ) продемонстрировали, что человек, проигравший существенную сумму денег Thaler R. H. and Johnson E. J. Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice. Data are presented from real money experiments that support a house money effect (increased risk-seeking in the presence of a prior gain) and break-even effects (in the presence of prior losses, outcomes that offer a chance to break even are especially attractive). Thaler, R., and Eric Johnson.

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