Direct and indirect effects of pathological gambling on risk attitudes
Brañas, P., Georgantzis, N. and Guillen, P. (2007) Direct and indirect effects of pathological gambling on risk attitudes. Judgment and Decision Making, 2 (2). pp. 126-136. ISSN 1930-2975
Official URL: http://journal.sjdm.org/jdm06164.pdf
We study individual decision making in a lottery-choice task performed by three different populations: gamblers under psychological treatment ("addicts"), gamblers’ spouses ("victims"), and people who are neither gamblers or gamblers’ spouses ("normals"). We ﬁnd that addicts are willing to take less risk than normals, but the difference is smaller as a gambler’s time under treatment increases. The large majority of victims report themselves unwilling to take any risk at all. However, addicts in the ﬁrst year of treatment react more than other addicts to the different values of the risk-return parameter.