DOCSLIB.ORG

We Are Bombarded with Decisions on a Daily Basis from the Simplest Ones

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
We Are Bombarded with Decisions on a Daily Basis from the Simplest Ones Playing Against the Odds: The Role of Mood, Experience and Risk in Decision-making Melinda Morgan Thesis submitted to the Faculty of Graduate and Postdoctoral Studies In partial fulfillment of the requirements for the PhD degree in Experimental Psychology School of Psychology Faculty of Social Sciences University of Ottawa © Melinda Morgan, Ottawa, Canada, 2013 ACKNOWLEDGMENTS There are many individuals that have provided support and helpful feedback on this project over the years that I would like to thank: Dr. Celine Blanchard – Thank you Celine for giving me the freedom as my supervisor to be myself and explore my academic passions. There were no guarantees as to how it would all turn out. Thank you for taking the jump and believing in the project with me. Your support, constructive critiques and guidance have been invaluable in making this dissertation the best that it can be. My thesis committee: Dr. Pierre Mercier, Dr. Silvia Bonaccio and Dr. Sylvain Chartier. Thank you to my committee for helping me hone and improve this project. Your feedback was invaluable during the design stage. Thank you also for your encouragement and enthusiasm and sharing my excitement to see where this would lead. People that consulted on the project: Dr. Denis Cousineau – Thank you for helping me perfect the statistics of the analyses. Your patience and guidance was very appreciated. Dr. Pietre Hoftstra – Thank you for consulting on the quantification of risk and decisions. Your math and poker knowledge was invaluable. My Poker Savvy friends – Thank you for your endless hours of brainstorming with me – and listening to me think aloud and groan about not knowing how to measure this hobby we love. Thank you also to the Ottawa poker community for taking part and spreading the word! Last but not least: To Chris: You have been my rock and number one fan. Words can’t express my thanks. You have encouraged me, supported me and reminded me often of why I was doing this. Thank you to my family and close friends. The support and encouragement over the years got me through and helped me to persevere despite obstacles. Words don’t capture my appreciation. ii ABSTRACT Past research in decision-making has typically utilized hypothetical measures or simplified gambles to investigate the decisions people make. This method has been criticized as it lacks ecological validity and omits background knowledge and experience from the decision process. Mixed findings in the literature have emerged in terms of the effects positive and negative affect on risk-taking. The Affect Infusion Model (AIM) consolidates the mixed findings by incorporating factors that affect the extent to which affect is infused in the judgment process (i.e. experience). The current research examined the effects of mood on risk-taking in a decision task that allowed for background knowledge and experience; the game of poker. Three studies were conducted to test the predictions of the AIM using a novel methodology. Mood was manipulated in all three studies. Study 1 found evidence of the moderating role of experience in the relationship between affect and risk-taking in a hypothetical poker decision task. The decisions of more experienced participants were less infused with affect than less experienced participants. Study 2 replicated the findings of Study 1 in a real-time poker task conducted in a laboratory setting. Study 3, using a similar design to Study 2, introduced a task incentive and an additional condition that provided real-time odds/expected value information during the decision task. An unexpected finding emerged with respect to the moderating role of experience in the relationship between affect and risk-taking. With the introduction of a task incentive, the decisions of more experienced participants were more infused with affect than less experienced participants during the first 20 minutes of the task. Evidence of a main effect of Mood and Odds Information was also found. An additional Mood X Odds Information effect on risk-taking emerged for decisions early in the decision task. The results obtained in the present research program are discussed with respect to their novel contributions to the decision- making and risk-taking literature. iii TABLE OF CONTENTS Abstract .........................................................................................................................................iii List of Tables ...............................................................................................................................viii List of Figures ................................................................................................................................x List of Appendices ........................................................................................................................ xi CHAPTER ONE ........................................................................................................................... 1 GENERAL INTRODUCTION ................................................................................................... 1 Mood and Risk-Taking in Decision-Making ........................................................................... 2 Inconsistent Findings in the Mood-Risk Taking Literature ..................................................... 6 Mood and Decision-Making in a Complex, Skilled Gambling Task: Texas Hold’Em Poker ............................................................................................................................................... 11 Expected Value and Optimal Decision-Making .................................................................... 14 The Present Research ............................................................................................................. 17 CHAPTER TWO ........................................................................................................................ 19 STUDY 1................................................................................................................................... 19 Method .................................................................................................................................. 19 Participants. ........................................................................................................................ 19 Measures. ........................................................................................................................... 20 Procedure and Materials. ................................................................................................... 23 iv Results ................................................................................................................................... 25 Data Screening. .................................................................................................................. 25 Validity of Mood Induction. .............................................................................................. 27 Preliminary Analyses. ........................................................................................................ 30 Characteristics of Experienced vs. Less Experienced Players. ...................................... 30 Bivariate Relations. ........................................................................................................ 30 Investigating Group Differences in Decision-Making. ...................................................... 33 The Interaction of Affect and Experience in Decision-Making. ........................................ 33 Discussion ............................................................................................................................. 35 CHAPTER THREE .................................................................................................................... 37 STUDY 2................................................................................................................................... 37 Method .................................................................................................................................. 37 Participants. ........................................................................................................................ 37 Measures. ........................................................................................................................... 39 Procedure and Materials. ................................................................................................... 43 Results ................................................................................................................................... 47 Data Screening. .................................................................................................................. 47 Validity of Mood Induction. .............................................................................................. 48 Preliminary Analyses. ........................................................................................................ 53 Characteristics of Experienced vs. Less Experienced Players. ...................................... 53 v Bivariate Relations among Variables of Interest. ........................................................... 54 Investigating Group Effects in Decision-Making. ............................................................. 55 The Interaction of Affect and Experience in Decision-Making. ........................................ 56 Discussion ............................................................................................................................
Load more

Recommended publications
  • Playing Online Texas Hold ‘Em
    www.pokerprofit.com PLAYING ONLINE TEXAS HOLD ‘EM THE BEST TIPS FOR PLAYING AND WINNING! Table of Contents 3 Introduction 5 History of Poker 7 History of Online Poker 9 Poker 101 18 Playing Texas Hold ‘Em 20 Position 23 Pot Odds & Outs 26 Playing the Flop 31 Playing the River 32 Betting 35 Strategies 38 Tells 42 Bluffing 45 Multi-Table Tournaments 49 Sit and Go’s 53 Limit Poker 57 Some Things To Keep In Mind 60 When Things Get Out of Hand 62 Conclusion INTRODUCTION It’s becoming almost as big as baseball, football, hockey, and other sporting events. Television has increased its popularity. With the Internet, it’s coming into our homes at a lightning fast rate. The rage that’s sweeping the nation – poker! Although the game has been around for years played in family recreation rooms, smoky bars, casinos, and even retirement homes, these days, poker has become the game of choice for hundreds of thousands of people. Family game night used to mean getting out the Monopoly board and battling over Park Place and Broadway. Now, family game night is more likely to be characterized by breaking out the poker chips and battling each other for the best hands. More and more people are talking about their bad beats, their great hands, and their prowess for play. Popular on college campuses, fraternal clubs, and even retirement homes, poker has become our new game of chance, and our new game of choice. What has led to the rise of this game? Most likely, it has been television and the media.
    [Show full text]
  • Dashabatar Taas of Bishnupur
    Lost Game: Dashabatar Taas of Bishnupur Tarun Tapas Mukherjee Assistant Professor, Bhatter College, West Bengal, India Picture 1: Dashabatar Taas of Bishnupur by Sital Fouzdar: one of the court-cards from each suit The Dynasty and the Game Bishnupur witnessed the rise of a glorious tradition of art, craft and culture since the 700 AD under the patronage of the Malla kings of Bankura. The tradition reached its zenith during the reign (1565—1620 A.D) of Malla king Veer Hambir, the 49th ascender to the throne. His long and stable reign can be called the golden era of arts and culture—classical in taste and nature. The tradition was carried forward by his successors King Raghunath Singha and his son Veer Singha. Art, literature and music reached their heights through research, experimentation, training and application. After his conversion to Vaishnavism, according to some authors, under the influence of Vaishnav guru Srinivas Acharya, Veer Hambir was inspired to create a distinct style of art and to nurture a different type of cultural atmosphere in Bishnupur.i The establishment of Vaishanavism might have had something to do with enjoying pastime in a different and non-violent way and this might have given birth to the game of ‘Dashabatar taas’. Vaishanavism also hints that the game might have been imported Chitrolekha International Magazine on Art and Design, (ISSN 2231—4822), Vol. 1, No. 2, August, 2011 URL of the Issue: www.chitrolekha.com/v1n2.php Available at www.chitrolekha.com/V1/n2/09_Dashabatar_Taas_of_Bishnupur.pdf Kolkata, India. © Chitrolekha International Magazine on Art and Design.
    [Show full text]
  • Learn How to Make Money Freelance Writing for the Casino/Gaming Industry!
    Learn how to make money freelance writing for the casino/gaming industry! FREELANCE POKER WRITING: How to Make Money Writing for the Gaming Industry Buy The Complete Version of This Book at Booklocker.com: http://www.booklocker.com/p/books/2570.html?s=pdf Freelance Poker Writing by Brian Konradt 14 PREFACE This book is slightly ahead of its time. Freelance Poker Writing is the first book showing freelance writers how to make money writing for the gaming industry. Why now? Both poker and casino-style games have been growing in popularity — and so has the writing opportunities. If you search for “poker writing” or “legalized game writing” on Google, you won’t come up with much information on how to break into this industry as a freelance writer. This does not mean writing opportunities don’t exist or freelance writers aren’t making money writing about poker and gaming. If you dig long enough, interview the pros in the industry, and research everything about poker and gaming, you will come up with what I came up. And I crammed everything I found into this guide for you. WHAT IS FREELANCE POKER WRITING? There are many popular casino-style games, but nothing matches the growth and popularity of poker and how poker influences society. In writing this book I have focused more on the games and influences of poker than on any other casino-style games. I use the term “poker writing” in this book to mean writing about the games of poker, as well as writing about the influences of poker.
    [Show full text]
  • Ganjifa, the Delicate Art on These Tiny Playing Cards
    Kunapipi Volume 22 Issue 2 Article 7 2000 Raghupathi Bhatta: Reviving a Dying Art June Gaur Follow this and additional works at: https://ro.uow.edu.au/kunapipi Part of the Arts and Humanities Commons Recommended Citation Gaur, June, Raghupathi Bhatta: Reviving a Dying Art, Kunapipi, 22(2), 2000. Available at:https://ro.uow.edu.au/kunapipi/vol22/iss2/7 Research Online is the open access institutional repository for the University of Wollongong. For further information contact the UOW Library: [email protected] Raghupathi Bhatta: Reviving a Dying Art Abstract Raghupathi Bhatta of Mysore, one of India's most promising traditional artists, hails from a family of South-Indian Pandits (Brahamin priests). It was in the ancient town of Nagamangala, seventy kilometers from Mysore, that his artistic imagination was fired. First, by the exquisite details of Hoysala craftsmanship in the temples there, and then, by the beautiful nineteenth-century playing cards of the Mysore Maharaja, Krishnaraja Wodeyar IV. He began his artistic career by learning Ganjifa, the delicate art on these tiny playing cards. But there were no gurus in the family from whom he could learn this centuries-old craft which had fascinated him since he was a child. To quote Bhatta: 'In the early seventies, I bought a few Ganjifa paintings from the Mysore Palace. Since then, it's grown into an obsession and I've lived for, and by Ganjifa, collecting as much information as I could, including old photographs and cards from all over India and Nepal'. This journal article is available in Kunapipi: https://ro.uow.edu.au/kunapipi/vol22/iss2/7 Raghupathi Bhatta: Reviving a Dying Art 33 JUNE GAUR Raghupathi Bhatta: Reviving a Dying Art Raghupathi Bhatta of Mysore, one of India's most promising traditional artists, hails from a family of South-Indian Pandits (Brahamin priests).
    [Show full text]
  • Remarking an Analisation Revisiting the Artisans
    P: ISSN NO.: 2394-0344 RNI No.UPBIL/2016/67980 VOL-3* ISSUE-12* (Part-2) March- 2019 E: ISSN NO.: 2455-0817 Remarking An Analisation Revisiting the Artisans of the Dashavatara Cards of Bishnupur, Bankura, West Bengal Abstract Games are a good source of recreation and a common pass time cutting across the people and country. Playing or watching games constitute an important feature of our culture, both because of their significance in the lives of the people and their capability to bring families and communities together, and because of the degree of creativity and skill that work into devising them. No indoor games can match the passion with which the cards are played in India. Playing cards is often considered a pass time , a pleasure to neutralize the burdens of life which people face generally in their personal or professional lives. In Medieval period, the Mughal emperors introduced the Ganjifa playing cards in India. Bishnpur, in the Bankura district of West Bengal was the only place in Bengal, where the Hinduized Ganjifa popularly known as the Dashavatara cards were crafted by the artisans. Though, in course of time, the game was changed here both in its content and rules. The artisans from the Faujdar family of Bishnupur specialize in crafting these cards. Though the craft once enjoyed a glorious time, now it has become an instance of the numerous art forms of India that are gradually becoming extinct, as they are not commercially feasible in their own land of origin. Keywords: Artisan, Ganjifa, Dashavatar, Cards, Craft, Game. Introduction Sanjay Prasad Playing cards is often regarded as a means of pleasure and Associate Professor, enjoyment to be relieved from burdens of life which we generally confront Dept.
    [Show full text]
  • CMS.608 / CMS.864 Game Design Spring 2008
    MIT OpenCourseWare http://ocw.mit.edu CMS.608 / CMS.864 Game Design Spring 2008 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms. Neil Dowgun CMS.608 3/17/08 The Creation of “Churchill Choice” Over the past decade, poker has captured a huge audience in America. It has become so popular that it has infiltrated both the internet and television, establishing itself in our shared consciousness. I waded into the internet, expecting to find an infinite variety of home-grown games, but there was a surprisingly large amount of overlap in variations that I found. Apparently, there are many, many games of poker that are commonly played, but most of them can be described as variations of a few basic forms, only with extra mechanics introduced. These basic forms are Draw Poker, Stud Poker, Shared Card Poker, and games of the Guts (Match Pot) family.1 Of these, Shared Card Poker has become the most popular recently, due to the televised World Series of Poker featuring Texas Hold’em, which is a Shared Card game. Because of this, I wanted to create a new Shared Card game that employs a new mechanic, but one that stays true to all the qualities that have made Texas Hold’em and the other forms of poker so fascinating to the populace. Each and every variation of poker is based upon a common foundation that allows players to easily pick up new games with a general understanding of how they are going to play out.
    [Show full text]
  • Dealer Receive Five Cards Face Down
    USOO6102402A United States Patent (19) 11 Patent Number: 6,102,402 Scott et al. (45) Date of Patent: Aug. 15, 2000 54) BAD BEAT STUD 57 ABSTRACT 76 Inventors: Mark Scott, 3878 Biltmore Bay St., Each player makes an initial ante wager and then each player Las Vegas, Nev. 89117; Bruce and the dealer receive five cards face down. The player Henderson, P.O. Box 5047, Carefree, makes a “first' wager to See a Sixth card and a "Second Ariz. 85377 wager to See a Seventh card. The Sixth and Seventh cards are each community cards used by each player and the dealer. 21 Appl. No.: 09/163,805 Each player's hand is analyzed to See if the player has a 1-1. qualifying hand of at least a pair of Deuces or better. If the 22 Filed: Sep. 30, 1998 player does not qualify, all wagers are lost by the player. If Related U.S. Application Data the player's hand does qualify, all cards of the dealer's hand 60 Provisional application No. 60/064,670, Oct. 14, 1997. are turned face up and each player's hand is compared to the dealers hand using conventional poker hand ranking to 51 Int. C.7 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - A63F 1/00 determined whether the players hand has a higher ranking 52 U.S. Cl. ............................................. 273/292; 273/274 five card poker hand than the dealer's hand. Each player also 58 Field of Search ..................................... 273/292, 274; optionally may make a side bet wager to be eligible for 463/12, 13, 16 Special payouts, including a “bad beat' payout.
    [Show full text]
  • For the More Advanced Card Player, Rummy Can Be Played in a Number of Different Ways with Rules to Suit Different Age Groups
    Rummy For the more advanced card player, Rummy can be played in a number of different ways with rules to suit different age groups. Kids can beat their mates and then challenge the grown-ups. Rummy is a card game in which you try to improve the hand that you’re originally dealt. You can do this whenever it’s your turn to play, either by drawing cards from a pile (or stock) or by picking up the card thrown away by your opponent and then discarding a card from your hand. You can play Rummy with two or more players (for six or more players, you need a second deck of cards). You’ll also need a paper and pencil for scoring. The objective of Rummy Your aim is to put (or meld) your cards into two types of combinations: Runs: Consecutive sequences of three or more cards of the same suit Sets (or Books): Three or four cards of the same rank. If you are using two decks, a set may include two identical cards of the same rank and suit. REMEMBER In most Rummy games, unlike the majority of other card games, aces can be high or low, but not both. So, runs involving the ace must take the form A-2-3 or A-K-Q but not K-A-2 The first person who manages to make his whole hand into combinations one way or another, with one card remaining to discard, wins the game. How to play Rummy Follow the rules and instructions below to understand how to play Rummy from start to finish: 1.
    [Show full text]
  • History of Texas Holdem Poker
    GAMBLING History of Texas Holdem Poker ever in the history of poker has it been as popular as nowadays. The most played poker game is definitely exasT Hold em. All Nover the world people are playing Texas Hold em games and there seems to be no end to the popularity of the game. Espe- cially playing Texas Hold em for free on the Internet has became extremely popular in the last years. Who actually invented this great poker game? This was a game, played in the 15th century, that was played with the card deck as we know it Where did it originally come from? And how today. It was a card game that included bluffing and betting. did free Texas Hold em games end up on the internet? To answer these questions it is The French colonials brought this game to Canada and then to the United States in the early important to trace back the history of poker, to 17th century, but the game didn’t became a hit until the beginning of the 18th century in New find out where it all began. Orleans. HISTORY OF POKER THEORIES During the American Civil War, soldiers played the game Pogue often to pass the time, all over the country. Different versions evolved from this firstPogue game and they were called ‘‘Stud’’ There are many different theories about how and ‘‘Draw’’. The official name for the game turned into ‘‘Poker’’ in 1834 by a gambler named poker came into this world and there seems to Jonathan H. Green. be no real proof of a forerunner of the game.
    [Show full text]
  • DJ Wild Poker 1. Definitions the Following Words and Terms, When
    DJ Wild Poker 1. Definitions The following words and terms, when used in the Rules of the Game of DJ Wild Poker, shall have the following meanings unless the context clearly indicates otherwise: Ante wager-- means a wager required by the game to initiate the start to the round of play. Blind wager-- means a wager required by the game that must also be played to receive their five (5) card hand. Trips wager -- Is an optional wager placed by the patron that only matters what the player’s seven card hand is. The outcome of the other wagers has no bearing on this wager. Play bet – Is the wager that is required to stay in the hand. The player must place 2X his Ante wager to stay in the hand or fold. 2. Cards; number of decks (a) Except as provided in (b) below, DJ Wild Poker shall be played with one deck of cards that meets the requirements of 205 CMR 146.48, plus the joker, and one additional cover card. The cover card shall be opaque and in a solid color readily distinguishable from the color of the backs and edges of the playing cards, as approved by the Commission. (b) If an automated card shuffling device is used for DJ Wild Poker, a gaming licensee shall be permitted to use a second deck of cards to play the game, provided that: (1) Each deck of cards complies with the requirements of (a) above; (2) The backs of the cards in the two decks are of a different color; (3) One deck is being shuffled by the automated card shuffling device while the other deck is being dealt or used to play the game; (4) Both decks are continuously alternated in and out of play, with each deck being used for every other round of play; and (5) The cards from one deck only shall be placed in the discard rack at any given time.
    [Show full text]
  • Aria Casino Poker Gentleman's Guide
    TABLE OF CONTENTS Etiquette Understanding DO’S & DON’TS TELLS Page 4 Page 5 Poker VARIANTS Terminology PLAYER TERMS Page 9 HAND TERMS ADVANCED TERMS Page 13 Facts AND INFO Page 19 Playing CERTAIN CARDS Page 21 Etiquette DO’S & DON’TS Do’s Don’ts Always accurately represent your Stall or Delay the game - pay attention action and never slow roll when it’s your turn Know verbal declarations are binding Don’t ask another player to see their cards after they muck Play at your comfort level - don’t play at a Don’t reveal your cards to other player higher limit if you are not comfortable at the table Be polite and always keep your cool – Don’t String Bet or Splash the pot win or loss about the hand in action, Always state your bet clearly Don’t talk speculate about another player’s hand, provide a play-by-play or talk strategy Allow every player to play their own game Don’t assume anyone will help you - as long as it is within the house rules at the tables, it’s one person per hand 4 What is a TELL ? A tell is an unconscious action that is thought to betray an attempted deception 5 Some of THE MOST COMMON TELLS* Leaning forward or backward. Aggression or forceful betting is a Suddenly bolting upright can usually classic case of weak-means-strong, indicate a strong hand. strong-means-weak. Impatiently wanting to bet Holding breath or staying very still can can indicate a strong hand and those who often indicate a weak hand as the player is are bluffing usually tend to take extra time.
    [Show full text]
  • Poker Flats Casino Drop Structure California Games
    POKER FLATS CASINO DROP STRUCTURE CALIFORNIA GAMES ONLAHA-TEXAS HOLD EM -PINEAP PLE LO BALL- DRAW POmR $1 TO $2 $2 DROP $2 TO $4 $3 DROP $2 TO $4 SPLIT GAMES $3 DROP $3 TO $6 $3 DROP DROP TAKEN BEFORE THE START OF GAME 5 CARD S TUD- 7CARD STUD $1 TO $5 $3 DROP $1 TO $5 SPLIT GAMES $3 DROP $1 TO $10 SPLIT GAMES $3 DROP $1 TO $10 $3 DROP * J DROP TAKEN BEFORE THE START OF GAME CALIFORNIA BLACKJACK (22) $5 TO $10 $1 COLLECTION FEE DROP TAKEN BEFORE THE START OF GAME MEXICAN POKER $1 TO $5 $2 DROP $2 TO $10 $3 DROP NO LIMIT $4 DROP DROP IS TAKEN OUT OF POT AFTER THE FIRST BET IS MADE AND CALLED POKER FLATS CASION DROP STRUCTURE ASIAN GAMES SUPER PAN 9 (PAN, SUPER 9) $5 TO $40 $1 COLLECTION FEE $10 TO $10 $2 COLLECTION FEE DROP IS TAKEN BEFORE THE START OF GAME PUSH 9 $1 CONDITION 1 TO 6 PLAYERS $2 DROP $1 CONDITION 7+PLA YERS $3 DROP $2 CONDITION 1 TO 6 PLAYERS $2 DROP $2 CONDITION 7+PLA YERS $3 DROP DROP IS TAKEN BEFORE THE START OF GAME DOUBLE HAND POKER (PAT GOW POKER) $1 DROP $1 DROP $2 DROP DROP TAKEN BEFORE THE START OF THE GAME POKER FLATS CASINO SEQUENCE and ROTATION of the DESIGNATED PLAYER POSITION * All designated player positions are advanced on a clock-wise rotation. This se uence, or rotation IS continued accordin to the numbered posit~onsof each tab‘!l e.
    [Show full text]