Probabilistic gambling tasks Experiment and Colored ball gambling tasks Experiment

Published: 16 June 2022| Version 3 | DOI: 10.17632/kmgcd8hskh.3
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Description

Following the traditional setup of the Allais-type betting task, two behavioral experiments including eight sets of gambling tasks were designed using the first set of gamble tasks in the Allais Paradox as the base template. One set of experiments describes the base rate information of the wagering tasks in the form of probabilistic combinations in order to better restore the decision environment of the traditional Alley-type wagering tasks. The other set of experiments was based on Experiment 1, which replaced the probabilistic descriptions with frequency representations in the form of images (Colored ball gambling tasks) to again examine the participants' decision making.

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Steps to reproduce

(1). The experiment was conducted in the form of online responses, and only multiple-choice questions were set for the administration of the material, and participants were required to select only by mouse clicks. Participants can participate in the experiment through the web link on mobile or PC, and each participant can only complete the material once. (2). Our data is powered by “Wenjuanxing”( www.wjx.cn). An online crowd sourcing platform in mainland China, which provides functions equivalent to Amazon Mechanical Turk.

Institutions

Southwest Jiaotong University

Categories

Evolutionary Psychology, Behavioral Finance

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