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Prefer a cash slap in your face over credit for halva

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Author Info

  • Hamed Ekhtiari
  • Ali Jannati
  • Morteza Dehghani
  • Azarakhsh Mokri
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    Abstract

    We investigated how frequency and amount of punishment affect the decision making of Iranian subjects. In our first experiment, performing a computer-based Persian version of the Iowa Gambling Task (IGT), our subjects scored remarkably lower than their Western counterparts. Moreover, our subjects chose more frequently and more rapidly from decks that had less frequent but larger amounts of punishments in comparison to decks that had more frequent punishments with smaller amounts. In our second experiment, subjects did not differentiate between decks with the same frequency of punishment but with different punishment amounts. However, among decks with the same amount but different frequency of punishment, a significant preference was apparent towards decks with less frequency of punishment. Our results differ from previous studies, indicating a different strategy in risky decision making among healthy adult Iranian subjects, as they show low attention to the amount of punishment and are more concerned with the frequency of punishment.

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    Bibliographic Info

    Article provided by Society for Judgment and Decision Making in its journal Judgment and Decision Making.

    Volume (Year): 4 (2009)
    Issue (Month): 7 (December)
    Pages: 534-542

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    Handle: RePEc:jdm:journl:v:4:y:2009:i:7:p:534-542

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    Related research

    Keywords: risky decision making; Iowa Gambling Task; cross cultural.;

    References

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    1. Stephan Bartke & Reimund Schwarze, 2008. "Risk-Averse by Nation or by Religion?: Some Insights on the Determinants of Individual Risk Attitudes," SOEPpapers on Multidisciplinary Panel Data Research 131, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. S. Illeris & G. Akehurst, 2001. "Introduction," The Service Industries Journal, Taylor & Francis Journals, vol. 21(1), pages 1-4, January.
    3. Michael A. DeDonno & Heath A. Demaree, 2008. "Perceived time pressure and the Iowa Gambling Task," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3(8), pages 636-640, December.
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