Template-Type:ReDIF-Paper 1.0
Title: Experimental Evidence for Attractions to Chance
Author-Name: Wulf Albers
Author-Name: Robin Pope
Author-Name: Reinhard Selten 
Author-Name: Bodo Vogt
Author-Postal: 
	Prof Dr Pope
	ZiF, Wellenberg 1
	33615 Bielefeld 
Author-Phone: 49 521 106 2763
Author-Homepage: 
Classification-JEL: D81
Keywords: attractions to chance, pre-outcome / post-outcome
	distinction, agreeable pre-outcome tension, exogenous changes in tension,
	exogenous changes in the scope for post-outcome elation, regret
Abstract: Divide the decisionmaker's future into: (i) a pre-outcome period (lasting
	from the decision until the outcome of that decision is known), and (ii)
	a
	sequel post-outcome period (beginning when the outcome becomes known).
	Anticipated emotions in both periods may influence the decision, in
	particular, with regard to an outcome that matters to the person, the
	enjoyable tension from not yet knowing what this outcome will be.  In
	the
	experiments presented, lottery choice can be explained by this
	attraction
	to chance, and cannot be explained by either convex von
	Neumann^Morgenstern
	utility, or by rank dependent risk loving weights: attraction to chance
	is
	a separate motivator.
Length:   pages
Creation-Date: 1999-12
Revision-Date: 
Handle: RePEc:bon:bonsfb:461 
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonsfb/bonsfb461.pdf
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File-Size: bytes
File-URL:   http://www.wiwi.uni-bonn.de/bgsepapers/bonsfb/bonsfb461.ps
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