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Tuesday, January 27, 2009
Study: Gamblers Who Lose Bet More
From Live Science:
People who carefully budget their bets before they hit the casinos — say setting a betting limit of $200 per day — routinely go against their plan when they lose.
University of California marketing professors Eduardo Andrade and Ganesh Lyer found that experiencing the pain of actual loss often results in people abandoning their plans and betting more money. "When gamblers haven't experience the actual pain of loss, they make cold and deliberate assessments of how much to bet in case of a future loss," Andrade said.
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