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Games of luck and games of chance: the effect of luck‐ versus chance‐orientation on gambling decisions
Author(s) -
Friedland Nehemia
Publication year - 1998
Publication title -
journal of behavioral decision making
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.136
H-Index - 76
eISSN - 1099-0771
pISSN - 0894-3257
DOI - 10.1002/(sici)1099-0771(199809)11:3<161::aid-bdm296>3.0.co;2-s
Subject(s) - luck , game of chance , orientation (vector space) , psychology , social psychology , cognitive psychology , epistemology , mathematics , statistics , philosophy , geometry
Chance and luck are conceived as two distinct causal agents that effect different results. The present study examined the proposition that persons who habitually attribute the outcome of random events to chance (chance‐oriented persons) and those who prefer to attribute such outcomes to luck (luck‐oriented persons) cope differently with decision making under uncertainty. Chance‐oriented persons decide according to given or estimated odds that define the decision problem. Luck‐oriented persons, on the other hand, rely on self‐attributions of personal luck, and ignore the probabilities of decision outcomes. The hypothesized qualitative difference between the approaches of chance‐ and luck‐oriented persons to decision making under uncertainty was supported substantially by the findings. © 1998 John Wiley & Sons, Ltd.