Effects of independent and dependent outcome values upon bets.

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Abstract
60 male and 60 female Ss bet whether or not they would draw a marked card from each of 35 packs of 10 marked and blank cards. There were 1, 3, 5, 7, or 9 marked cards in each pack. Drawing a marked card had 7 values--independent outcomes (IOs)--in the range ± 10 for 1 group and ± 50 for another; drawing a blank card had 0 IO. Ranges of permissible bets--dependent outcomes (DOs)--were ± 2 or ± 10 for the 1st group and ± 10 or ± 50 for the 2nd group. It was found that: (1) the relative frequencies of bets on marked cards were higher with positive than with negative IO in all subgroups, (2) this effect appeared to be relative to the range of IO, (3) it tended to be related to DO negatively at extreme probabilities and positively at .5, and (4) it did not show a reliable sex difference. The evidence was indecisive as to whether the effect increased monotonically with IO. (PsycINFO Database Record (c) 2006 APA, all rights reserved)

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