Dynamic Inconsistencies in Gambling: the Role of Feelings

Eduardo B. Andrade, University of California, Berkeley
Ganesh Iyer, University of California, Berkeley
Anecdotal evidence suggests that in a gambling environment people might violate “pre-commitments,” and subsequently bet more than they had initially planned. In this paper, we investigate this phenomenon in a scenario where i) participants have full information about the gambles prior to the planning phase ii) the time period between the planning and actual phases of the gambles is very short, iii) participants believed that their plans will be executed, iv) and participants are reminded of their planned bets right before they make their actual bets. In a series of experiments, we assess the presence, shape and potential processes underlying dynamic inconsistencies in a sequence of fair gambles.
[ to cite ]:
Eduardo B. Andrade and Ganesh Iyer (2008) ,"Dynamic Inconsistencies in Gambling: the Role of Feelings", in NA - Advances in Consumer Research Volume 35, eds. Angela Y. Lee and Dilip Soman, Duluth, MN : Association for Consumer Research, Pages: 185-188.