Lottery attractiveness and presentation mode of probability and value information

• Verfasst von: Fiedler, Klaus [VerfasserIn]
• Verfasst von: Unkelbach, Christian [VerfasserIn]
• Titel: Lottery attractiveness and presentation mode of probability and value information
• Verf.angabe: Klaus Fiedler and Christian Unkelbach
• Jahr: 2011
• Umfang: 17 S.
• Fussnoten: First published: 24 December 2010 ; Gesehen am 09.05.2022
• Titel Quelle: Enthalten in: Journal of behavioral decision making
• Ort Quelle: New York, NY [u.a.] : Wiley, 1988
• Jahr Quelle: 2011
• Band/Heft Quelle: 24(2011), 1, Seite 99-115
• ISSN Quelle: 1099-0771
• DOI: doi:10.1002/bdm.685
• Datenträger: Online-Ressource
• Sprache: eng
• Bibliogr. Hinweis: Erscheint auch als : Druck-Ausgabe: Fiedler, Klaus, 1951 - : Lottery attractiveness and presentation mode of probability and value information. - 2011
• Bibliogr. Hinweis: Erscheint auch als : Druck-Ausgabe: Fiedler, Klaus, 1951 - : Lottery attractiveness and presentation mode of probability and value information. - 2011
• Sach-SW: diagnosticity
• Sach-SW: experienced probability
• Sach-SW: lottery attractiveness
• Sach-SW: presentation mode
• K10plus-PPN: 180120134X

Abstract

The attractiveness of lotteries that vary in p (probability) and o (outcome) depends on the presentation mode of p and o information. Extending previous findings on temporally experienced p, we manipulate the numerically stated versus spatially experienced format of both p (graphical presentation of a distribution of lottery tickets in an urn) and o (distribution of money notes). Lottery attractiveness ratings were sensitive to the expected value (EV), but p received more weight than o at constant EV levels (p-dominance). Both EV sensitivity and p-dominance were enhanced for experienced p and numerical o. This format particularly revealed the unattractiveness of low-p lotteries. Experiencing p was functional in terms of accuracy and high-risk avoidance, but only when the task environments rendered p diagnostic of EV. The presentation mode manipulations did not affect the initial perception stage but the relative weighting of p and o in the final judgment integration stage. Copyright © 2010 John Wiley & Sons, Ltd.