全部 标题 作者
关键词 摘要

OALib Journal期刊
ISSN: 2333-9721
费用:99美元

查看量下载量

相关文章

更多...

Fear and loathing in Las Vegas

Keywords: blackjack , gambling , omission bias , decision making.NAKeywords

Full-Text   Cite this paper   Add to My Lib

Abstract:

This paper uses proprietary data from a blackjack table in Las Vegas to analyze how the expectation of regret affects peoples' decisions during gambles. Even among a group of people who choose to participate in a risk-taking activity, we find strong evidence of an economically significant omission bias: 80\% of the mistakes at the table are caused by playing too conservatively, resulting in substantial monetary losses. This behavior is equally prevalent among large-stakes gamblers and does not change in the face of more complicated strategic decisions.

Full-Text

Contact Us

service@oalib.com

QQ:3279437679

WhatsApp +8615387084133