Decision-Making Experiment: Choices Among Gambles Part 1

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Look at Choice No. 1 below. Imagine two containers, each of which holds exactly 100 tickets. The tickets are all identical, but they have different cash prizes printed on them.

You get to choose the container from which a ticket will be drawn randomly. You win the amount of money printed on the ticket.

Click the button to indicate which gamble you would rather play. Please take your time and choose carefully and wisely.

Warning: You will not receive any further warnings concerning your decision times, wrong decisions, or skipped items. However, we are recording your times at the task and errors. Credit toward the CSUF research assignment will not be given for random button clicking. For credit, we expect you to concentrate and think about your decisions for two hours. Thank you for helping us to understand how people make decisions.



1.
First Gamble:
   50 tickets to win $100
   50 tickets to win $0
OR
Second Gamble:
   50 tickets to win $35
   50 tickets to win $25

Choose First Gamble Choose Second Gamble


2.
First Gamble:
   50 tickets to win $100
   50 tickets to win $0
OR
Second Gamble:
   50 tickets to win $45
   50 tickets to win $35

Choose First Gamble Choose Second Gamble


3.
First Gamble:
   70 tickets to win $100
   10 tickets to win $50
   20 tickets to win $0
OR
Second Gamble:
   70 tickets to win $80
   10 tickets to win $50
   20 tickets to win $0

Choose First Gamble Choose Second Gamble


4.
First Gamble:
   35 tickets to win $100
   10 tickets to win $35
   55 tickets to win $25
OR
Second Gamble:
   55 tickets to win $100
   10 tickets to win $35
   35 tickets to win $25

Choose First Gamble Choose Second Gamble


5.
First Gamble:
   80 tickets to win $100
   10 tickets to win $44
   10 tickets to win $40
OR
Second Gamble:
   80 tickets to win $100
   10 tickets to win $96
   10 tickets to win $4

Choose First Gamble Choose Second Gamble


6.
First Gamble:
   01 tickets to win $100
   20 tickets to win $49
   20 tickets to win $45
   59 tickets to win $4
OR
Second Gamble:
   01 tickets to win $100
   20 tickets to win $97
   20 tickets to win $11
   59 tickets to win $4

Choose First Gamble Choose Second Gamble


7.
First Gamble:
   10 tickets to win $98
   10 tickets to win $2
   80 tickets to win $2
OR
Second Gamble:
   10 tickets to win $40
   10 tickets to win $40
   80 tickets to win $2

Choose First Gamble Choose Second Gamble


8.
First Gamble:
   85 tickets to win $96
   05 tickets to win $96
   05 tickets to win $14
   05 tickets to win $12
OR
Second Gamble:
   85 tickets to win $96
   05 tickets to win $90
   05 tickets to win $12
   05 tickets to win $12

Choose First Gamble Choose Second Gamble


9.
First Gamble:
   45 tickets to win $58
   45 tickets to win $56
   10 tickets to win $2
OR
Second Gamble:
   45 tickets to win $96
   45 tickets to win $4
   10 tickets to win $2

Choose First Gamble Choose Second Gamble


10.
First Gamble:
   95 tickets to win $96
   05 tickets to win $12
OR
Second Gamble:
   90 tickets to win $96
   10 tickets to win $48

Choose First Gamble Choose Second Gamble


11.
First Gamble:
   80 tickets to win $96
   20 tickets to win $40
OR
Second Gamble:
   90 tickets to win $96
   10 tickets to win $4

Choose First Gamble Choose Second Gamble


12.
First Gamble:
   10 tickets to win $100
   45 tickets to win $44
   45 tickets to win $40
OR
Second Gamble:
   10 tickets to win $100
   45 tickets to win $96
   45 tickets to win $4

Choose First Gamble Choose Second Gamble


13.
First Gamble:
   05 tickets to win $96
   95 tickets to win $12
OR
Second Gamble:
   10 tickets to win $52
   90 tickets to win $12

Choose First Gamble Choose Second Gamble


14.
First Gamble:
   85 tickets to win $100
   10 tickets to win $50
   05 tickets to win $50
OR
Second Gamble:
   85 tickets to win $100
   10 tickets to win $100
   05 tickets to win $7

Choose First Gamble Choose Second Gamble


15.
First Gamble:
   59 tickets to win $100
   20 tickets to win $49
   20 tickets to win $45
   01 tickets to win $4
OR
Second Gamble:
   59 tickets to win $100
   20 tickets to win $97
   20 tickets to win $11
   01 tickets to win $4

Choose First Gamble Choose Second Gamble


16.
First Gamble:
   90 tickets to win $96
   05 tickets to win $14
   05 tickets to win $12
OR
Second Gamble:
   25 tickets to win $96
   05 tickets to win $90
   70 tickets to win $12

Choose First Gamble Choose Second Gamble


17.
First Gamble:
   10 tickets to win $98
   80 tickets to win $40
   10 tickets to win $2
OR
Second Gamble:
   10 tickets to win $40
   80 tickets to win $40
   10 tickets to win $40

Choose First Gamble Choose Second Gamble


18.
First Gamble:
   70 tickets to win $89
   10 tickets to win $88
   20 tickets to win $11
OR
Second Gamble:
   80 tickets to win $90
   10 tickets to win $13
   10 tickets to win $12

Choose First Gamble Choose Second Gamble


19.
First Gamble:
   50 tickets to win $44
   50 tickets to win $40
OR
Second Gamble:
   50 tickets to win $96
   50 tickets to win $4

Choose First Gamble Choose Second Gamble


20.
First Gamble:
   10 tickets to win $44
   10 tickets to win $40
   80 tickets to win $2
OR
Second Gamble:
   10 tickets to win $96
   10 tickets to win $4
   80 tickets to win $2

Choose First Gamble Choose Second Gamble


21.
First Gamble:
   05 tickets to win $96
   05 tickets to win $12
   90 tickets to win $3
OR
Second Gamble:
   05 tickets to win $52
   05 tickets to win $48
   90 tickets to win $3

Choose First Gamble Choose Second Gamble


22.
First Gamble:
   20 tickets to win $58
   20 tickets to win $56
   60 tickets to win $2
OR
Second Gamble:
   20 tickets to win $96
   20 tickets to win $4
   60 tickets to win $2

Choose First Gamble Choose Second Gamble


23.
First Gamble:
   90 tickets to win $96
   05 tickets to win $14
   05 tickets to win $12
OR
Second Gamble:
   85 tickets to win $96
   05 tickets to win $90
   10 tickets to win $12

Choose First Gamble Choose Second Gamble


24.
First Gamble:
   10 tickets to win $98
   90 tickets to win $2
OR
Second Gamble:
   20 tickets to win $40
   80 tickets to win $2

Choose First Gamble Choose Second Gamble


25.
First Gamble:
   80 tickets to win $100
   10 tickets to win $44
   10 tickets to win $40
OR
Second Gamble:
   80 tickets to win $100
   10 tickets to win $96
   10 tickets to win $4

Choose First Gamble Choose Second Gamble


26.
First Gamble:
   80 tickets to win $96
   10 tickets to win $44
   10 tickets to win $40
OR
Second Gamble:
   90 tickets to win $96
   10 tickets to win $10

Choose First Gamble Choose Second Gamble


27.
First Gamble:
   80 tickets to win $98
   10 tickets to win $98
   10 tickets to win $2
OR
Second Gamble:
   80 tickets to win $98
   10 tickets to win $40
   10 tickets to win $40

Choose First Gamble Choose Second Gamble


28.
First Gamble:
   85 tickets to win $100
   15 tickets to win $50
OR
Second Gamble:
   95 tickets to win $100
   05 tickets to win $7

Choose First Gamble Choose Second Gamble


29.
First Gamble:
   48 tickets to win $44
   48 tickets to win $40
   04 tickets to win $2
OR
Second Gamble:
   48 tickets to win $96
   48 tickets to win $4
   04 tickets to win $2

Choose First Gamble Choose Second Gamble


30.
First Gamble:
   90 tickets to win $98
   10 tickets to win $2
OR
Second Gamble:
   80 tickets to win $98
   20 tickets to win $40

Choose First Gamble Choose Second Gamble


31.
First Gamble:
   90 tickets to win $100
   05 tickets to win $96
   05 tickets to win $12
OR
Second Gamble:
   90 tickets to win $100
   05 tickets to win $52
   05 tickets to win $48

Choose First Gamble Choose Second Gamble



Have you ever read a scientific paper (i.e., a journal article or book) on the theory of decision making or on the psychology of decision making?

No. Never.
Yes, I have.

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