Risk-seeking behavior of preschool children in a gambling task
AbstractA recent neurobiology study showed that monkeys systematically prefer risky targets in a visual gambling task. We set a similar experiment with preschool children to assess their attitudes toward risk and found the children, like the monkeys, to be risk seeking. This suggests that adult humans are not born risk averse, but become risk averse. Our experiment also suggests that this behavioral change may be due to learning from negative experiences in their risky choices. We also showed that though emotional states and predetermined prenatal testosterone can influence children’s preferences toward risk, these factors could not override learning experiences.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15516.
Date of creation: 01 Nov 2008
Date of revision:
Other versions of this item:
- Moreira, Bruno & Matsushita, Raul & Da Silva, Sergio, 2010. "Risk seeking behavior of preschool children in a gambling task," Journal of Economic Psychology, Elsevier, vol. 31(5), pages 794-801, October.
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-17 (All new papers)
- NEP-CBE-2009-06-17 (Cognitive & Behavioural Economics)
- NEP-EXP-2009-06-17 (Experimental Economics)
- NEP-NEU-2009-06-17 (Neuroeconomics)
- NEP-UPT-2009-06-17 (Utility Models & Prospect Theory)
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